Kashmir,Sep 12 (KTNS):The State Administrative Council (SAC), which met here today under the chairmanship of Governor, Shri Satya Pal Malik accorded sanction to the release of additional installment of 2% Dearness Allowance (DA) to the State Government employees and pensioners w.e.f 1st July, 2018, over the existing rate of 7% of the basic pay / pension.
The arrears from July, 2018 to September 2018 will be credited to respective G.P Fund accounts of the employees and w.e.f October, 2018, the salary / pension will be drawn on revised rates of D.A. However, pensioners or those employees retiring this year will be paid arrears in cash.
The impact on the exchequer on account of Dearness Allowance would be Rs 118 crore for the current financial year and the annual financial implications would come to Rs 177 crore approximately.
The enhancement of DA would benefit around 4.50 lakh State Government employees and 1.60 lakh pensioners.