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Our Bureau

New Delhi March 15 The Union Cabinet today gave its approval to release of additional instalment of dearness allowance to Central Government employees and dearness relief to pensioners as due from January 1 this year in cash at the rate of 6 per cent over the existing rate of 29 per cent.

The rate of dearness allowance and dearness relief from January 1 this year will be 35 per cent for all Central Government employees and pensioners/family pensioners of Central Government respectively.

Financial Implication

The additional financial implication on account of this increase of dearness allowance is estimated at Rs 2,265.12 crore per annum and Rs 2,642.64 crore in the financial year 2007-08. The additional financial implication on account of this increase of dearness relief to pensioners is estimated at Rs 1,079.08 crore per annum and at Rs 1,257.78 crore in the financial year 2007-08.

The total impact on the exchequer on account of both dearness allowance and dearness relief would be to the order of Rs 3,343.2 crore in a full year and Rs 3,900.42 crore in the financial year 2007-08.

Retirement age enhanced

Meanwhile, the Union Cabinet also gave its approval for enhancing the age of superannuation for teaching position in Centrally funded educational institutions under the Ministry of Human Resource Development from 62 years to 65 years with a provision for re-employment beyond 65 and up to 70 against sanction vacancies if they are not filled up by regular candidates.

The Cabinet also gave its approval for extending the currency of the Special Railway Safety Fund beyond 2006-07 for one year.

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Cabinet nod for additional DA, pension relief

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