Tuesday, February 11, 2025

Jharkhand Govt: 3% DA Hike for Employees and Pensioners

Jharkhand government has announced a 3% increase in the dearness allowance (DA) for its employees, effective from July 1, 2024.

This decision, approved during a cabinet meeting chaired by Chief Minister Hemant Soren, aims to provide financial relief to over 300,000 employees and pensioners in the state.

Jharkhand Govt DA Hike: Background and Rationale

Dearness Allowance (DA) is a portion of an employee’s basic salary designed to offset the impact of inflation on living expenses.

The recent hike brings the DA to 53% of the basic pay, up from the previous 50%.

This adjustment is part of a broader trend across the country, where state and central governments are enhancing financial assistance for government workers in light of escalating inflation.

The increase in DA will benefit over 300,000 employees and pensioners across various departments in Jharkhand.

In addition to the DA hike, the government has also revised several associated allowances, including HRA and Tough Location Allowance.

The revisions also cover Conveyance Allowance and Special Allowance for Children of Women with Disabilities.

These changes are expected to significantly improve the financial well-being of state employees and pensioners.

Economic Implications

Jharkhand government allocates approximately Rs 16,000 crore annually to cover the salary and allowances of its employees.

With the recent DA hike, this expenditure is likely to increase, reflecting the government’s ongoing investment in public sector workers and their welfare.

Chief Minister Hemant Soren emphasized the government’s commitment to the state’s development.

He stated that they are ready to move forward with a visionary mindset for the betterment of Jharkhand.

The next DA revision will probably take place in March 2025.

This continues the established practice of biannual updates to provide financial relief to employees and retirees.

Jharkhand government’s decision to increase DA aligns with the Centre’s recent pattern of biannual DA revisions for employees and pensioners.


Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube. To get the latest news updates, subscribe to our channels. WhatsAppClick HereGoogle NewsClick HereYouTubeClick Here, and LinkedIn: Click Here.

Editorial

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Deloitte, PwC, EY, KPMG Outpace Global Growth for India Divisions

The Indian divisions of Deloitte, PwC, EY, and KPMG...

EPS-95 Higher Pension Update: Less Than 1% Cases Settled So Far

Supreme Court Ruling and EPFO’s Higher Pension Rollout The Employees’...

Strong Job Growth and Salary Increases Expected in IT Sector

India's IT sector is on track for significant growth,...

Must Read

Cognizant acquired 08 digital firms to grow business in 2020

Cognizant has acquired 08 digital firms to grow business...

Recognizing and Overcoming Unconscious Biases in HR

We all have unconscious biases --- assumptions that shape how we...

TCS Walk-in Drive on January 11, 2025, Register Here

India's largest IT services provider company, Tata Consultancy Services...

How to Reinvent Yourself in Modern-Day Corporate Organizations

Amidst the development discourse that has continued since advent...

Wipro says its employees in Israel to work from home

An Indian multinational corporation, Wipro has asked its employees...

Wadhwani Foundation appoints Gaurav Saini as Global CHRO

A not-for-profit, Wadhwani Foundation has appointed Gaurav Saini as Global...

Honda Motorcycle & Scooter India rolls out VRS to employees

Honda Motorcycle & Scooter India rolls out VRS to...

Khattar appeals to Gurgaon companies ‘Work From Home’

Haryana government has advised all companies operating in Gurugram...

Related Articles

Sahiba Sharma
Sahiba Sharmahttps://sightsinplus.com/
Sahiba Sharma, Senior Editor - Content at SightsIn Plus