New Delhi, Sep 4 (IANS): The government Thursday said it will release an additional installment of dearness allowance (DA) to central government employees and dearness relief (DR) to pensioners from July 1, 2014.
"This is an increase of seven percent over the existing rate of 100 percent of the basic pay, pension, to compensate for price rise," the union cabinet said in a statement after a meeting here.
According to the statement, the increases in DA and DR are in accordance with the accepted formula, which is based on the recommendations of the sixth central pay commission.
The statement added that the combined impact on the exchequer on account of both DA and DR would be of the order of Rs.7,691 crore per annum and Rs.5,127 crore, respectively, in 2014-2015.