GUJARAT GOVERNMETN ANNOUNCE 1 % D.A. FROM 1st JULY

GUJARAT GOVERNMETN ANNOUNCE 1 % D.A. FROM 1st JULY

The Gujarat government raised the dearness allowance for central government employees and pensioners by 1% on Tuesday, and approved a bill to raise the ceiling of tax-free gratuity from Rs 10 lakh to Rs 20 lakh for private sector employees.The increase in dearness allowance and dearness relief to 5% from 4% will benefit around 49.26 lakh central government employees and 61.17 lakh pensioners, Union minister Ravi Shankar Prasad said.Fatter pay cheques could help increase spending in an economy that is seen to be still reeling from the affects of last year’s note ban, though experts said the impact is likely to be mild. The economy growth rate in the last quarter plummeted to 5.7% from the corresponding period a year before.

REad Official News REport