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The union cabinet today approved an additional dearness allowance (DA) of 3 per cent over the existing rate of 9 per cent for government employees and pensioners which will be effective from January 1, 2019. This will cost the government around Rs 9,200 crore per year. The move is expected to benefit more than one crore central government employees and pensioners.The hike will benefit about 48.41 lakh central government employees and 62.03 lakh pensioners.
Last August, government had approved an increase of 2% in the Dearness Allowance (DA) for the central government employees, effective from July 1, 2018, over the existing rate of 7% of the basic pay or pension in order to "compensate for price rise".
Previously, in March 2018, the Cabinet had increased DA from 5% to 7% in accordance with the recommendations of the 7th Central Pay Commission.
Thus with increased income they can consider opening a SIP or can consider using hot stock of the day to add more profit to their income.
