7th Pay Commission latest news today: Only after this date are pensioners likely to get DR relief at new rate
7th Pay Commission latest news today: Pensioners are a worried lot in these difficult times of Coronavirus as they are still getting DA at old rate
7th Pay Commission latest news today: Pensioners are a worried lot in these difficult times of Coronavirus. Anything that is affecting them the most is the loss of Dearness Relief (DR) - they are likely to get DR when central government employees DA hike happens. Pensioners, like government employees, are having to do with old rate of DR, as the government has decided against implementing the new rate due to the crisis created by the pandemic.
DR of pensioners increases twice in January and July. However, this year, the government has decided to implement the hiked DR rate from June 2021. This implies that the pensioners will have to make peace with old rate from January 2020 to June 2021.
Pensioners were curious as they were anticipating to get increased DA rate anytime this year. They got also hopeful when the government decided to give bonus to them on Diwali, however, nothing of this sort happened. Pensioners should know that any increment in DA or implementation of new rate is only possible after July 2021, until the government makes any new announcement in this regard.
The government had to disburse DA at older rate due to the impact of coronavirus on its treasury to government employees. Currently, Pensioners are getting DA at 17 per cent, instead of new 21 per cent. Pensioners are entitled for DA under 7th Pay Commission and there is a regular hike in this amount as well. But as it appears, pensioners are not likely to get any relief in this regard this year.
See Zee Business Live TV Streaming Below:
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.