Employees: If you are a central employee then this news will bring a smile on your face. Yes, Modi government is preparing to give you a gift before Diwali. In the midst of the Corona crisis, the central government may work to change the base year of the Consumer Price Index-Industrial Workers (CPI-IW). If this happens, it is possible to increase the dearness allowance of government employees, which will benefit 48 lakh central employees.
Will DA increase: Dearness Allowance (DA) of government employees is expected to increase. This is because it is calculated on the basis of this index. Talking about the present time, the base year of the consumer price index for industrial laborers is 2001, which is under preparation for 2016. Not only this, the three crore industrial laborers of the country will also get benefit and more money will come in their pockets.
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What will be the immediate benefit: Central employees, however, will not get immediate benefit. This is because in the DA, the government has stayed till June 2021. Even after this, the change in the base year of the consumer price index will benefit the central employees in the future. At present the DA gives 17 percent dearness allowance i.e. DA to the central government.
Festival Advance: Here, the Modi government is going to give a special festival advance of Rs 10,000 to the central employees, on which there will be no interest. Talking about its return, employees will be able to do it in 10 easy installments. At the same time, cash vouchers will be available in lieu of Leave Travel Concession (LTC). It has been announced by the Central Government in the last days.
Improve consumer demand and stimulate the economy: It aims to improve consumer demand and stimulate the economy during the festive season. The cash vouchers received in lieu of LTC will allow employees to buy goods that attract a GST of 12 percent or more, but will not include any food and drink. Apart from central employees, public sector and bank employees will also get this facility. The central government also suggested the states to adopt this scheme.
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