Dearness Allowance hiked by 6%; to benefit over 1 crore employees, pensioners

NEW DELHI: In a bonanza to over one crore central government employees and pensioners, the Cabinet today hikedDearness Allowance (DA) by 6 per cent to 113 per cent of their basic pay with effect from January. 

The decision benefiting 48 lakh government employees and 55 lakh pensioners would lead to an outgo of Rs 7,889.34 crore in the current fiscal. 

The decision to hike the DA was taken at the meeting of the Union Cabinet headed by Prime Minister Narendra Modi, an official statement said. 

"Central Government employees as well as pensioners are entitled for DA/Dearness Relief (DR) at the rate of 113 per cent of the basic pay with effect from January 1, 2015," it added. 

The increase is in accordance with the accepted formula based on the recommendations of the 6th Central Pay Commission. 

The release further said the combined impact on the exchequer on account of both DA and DR would be of the order of Rs 6,762.24 crore per annum, and Rs 7,889.34 crore in the 2015-16 (for a period of 14 months from January 2015 to February 2016). 

DA was last revise in September last year from 100 per cent of basic pay to 107 per cent. The increase was effective from July 1, 2014.

source:http://economictimes.indiatimes.com/

First ATM of India Post

Union Minister for Communications and IT Shri Ravi Shankar Prasad on April 2, inaugurated the first ATM at Department of Posts, in General Post Office premises, Bangalore. It is the first an ATM will go live in Karnataka Postal Circle.

Speaking on the occasion, Minister Ravi Shankar Prasad said the need of the hour was for the Department of Posts to think a little out of box. “The Department of Posts should be ready to meet the three benchmarks – ensuring delivery of letters (post), money orders and parcels on time. It has to utilise its wide network for better performance and revenue,’’ Prasad said.

Praising MS Ramanujam, chief post master general, for taking measures to provide an ATM and other services in Karnataka Postal Circle, the minister said that the Department of Posts should make an attempt to increase revenue. “You have done a good job of associating with Department of Tourism which has agreed to find a sponsor for maintaining the heritage building of Postal Department on Museum Road,’’ he said.

• The following are features of the ATM service:
• The Department of Posts will issue ATM cards free of cost
• Card holders can transact from any DOP ATMs in the country
• Instant ATM cards will be issued at the Post Offices
• Personalised cards will be issued within 15 to 20 days
• The ATM will function from 8 am to 8 pm
• The service will be available only for post office account holders

Source:sapost.blogspot.in