Srinagar, Set 12: The State Administrative Council (SAC), which met here today under the chairmanship of Governor Satya Pal Malik accorded sanction to the release of additional installment of 2 percent Dearness Allowance (DA) to the State government employees and pensioners with effect from 1st July, 2018, over the existing rate of 7 percent 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 from 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, an official press release informed.
It said 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, it said.
