3% HIKE IN DA, WILL BENEFIT ONE CRORE

NEW DELHI: The cabinet on Tuesday announced that it had approved a 3 per cent hike in Dearness Allowance or DA, a move that will benefit more than one crore central government employees and pensioners. The decision will cost the exchequer over Rs. 9,000 crore. The Central Government employees have been demanding a hike of up to Rs 8,000 in the minimum pay and an increase in the fitment factor from 2.57 times to 3.68 times beyond the recommendations of the 7th Pay Commission.