Days after millions of Central government employees got second installment of arrears arising from implementation of the Sixth Pay Commission, they are set to get more money.
The Cabinet on Thursday is expected to take a decision to increase dearness allowance by 5 per cent from July 1, 2009.
If cleared, around 5 million employees and 3.8 million pensioners will benefit. It will cause an additional burden of approximately Rs 2,600 crore (Rs 260 billion) till December 2009.
In February, the government had raised the DA by 6 per cent with a total outgo of Rs 5,160 crore for the year beginning January 2009.
The proposal has come at the time when the Finance Ministry has asked all Central government ministries to cut its non-plan expenditure by 15 per cent to combat rising fiscal deficit.
Home loans
A proposal to provide interest subvention of 1 per cent on home loans up to Rs 10 lakh is also expected to be taken up. The move is aimed at giving stimulus to the real estate sector.
Home loans
A proposal to provide interest subvention of 1 per cent on home loans up to Rs 10 lakh is also expected to be taken up. The move is aimed at giving stimulus to the real estate sector.
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