DEARNESS ALLOWANCE FOR CENTRAL GOVERNMENT EMPLOYEES INCREASED

The cabinet committee,today, in its meeting headed by The Prime Minister, decided to increase the the D.A by 10%. Hike in  the Dearness Allowance (D.A) will be from  35% to 45% .w.e.f.July 2010





         Release of additional instalment of dearness allowance to Central Government employees and dearness relief to Pensioners due from 1.7.2010 to compensate for price rise

The Union Cabinet today decided to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 1.7.2010 representing an increase of 10% over the existing rate of 35% of the Basic Pay/Pension, to compensate for price rise. 

     The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. 



    The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief will be of the order of Rs. 9303.2 crore per annum and Rs. 6202.1 crore in the financial year 2010-2011 (for a period of 8 months from July,2010 to February, 2011)

source:gservants

D.A HIKE FOR CENTRAL GOVERNMENT EMPLOYEES TO BE ANNOUNCED TODAY

       Ahead of the festival season, Union cabinet  Today is likely to consider a proposal for a 10% hike in the Dearness Allowance (DA) for central government employees and pensioners considering the high rate of inflation in the past six months.

     The proposal aims to extend relief to around 50 lakh employees and 38 lakh pensioners from the soaring prices as till recently the inflation rate was over 10% for many months.

      Official sources said the 10% increase, if approved, would be released with effect from July 1 this year. The central staff already get 35% of their basic pay as DA. According to an official, the proposed increase is in accordance with the formula devised by the Sixth Pay Commission to compensate for price rise
source:TOI

BEL Gets “India Pride Award”


        Navratna Defence PSU Bharat Electronics Ltd (BEL) has won the Gold prize in the Heavy Industries category of the DNA-Dainik Bhaskar India Pride Awards 2010 for “Excellence in PSUs”. 


         Mr Ashwani Kumar Datt, Chairman & Managing Director, BEL, received the award from Mr Pranab Mukherjee, Union Finance Minister, at a ceremony held in New Delhi.


       BEL, India’s foremost defence electronics company, is a Rs. 5,000-crore multi-product, multi-technology, multi-Unit conglomerate with over 350 products in the areas of Military Communication, Radars, Naval Systems, Telecom & Broadcast, Electronic Warfare, Tank Electronics, Electro Optics, Professional Electronic Components and Solar Photovoltaic Systems. While defence continues to contribute to nearly 80 to 85% of its revenue, BEL has expanded its horizons beyond defence electronics and touched a chord with the common man through civilian products like solar traffic signals and Electronic Voting Machines (EVMs). BEL’s customers include the Army, Navy, Air Force, Paramilitary, Coast Guard, Police, Doordarshan, All India Radio, Department of Telecommunications and consumers of professional electronic components. BEL offers customised network-centric solutions to the Army, Navy and Air Force. The Company is also working on prestigious weapon system programmes such as the Akash Missile System. 


      A zero-debt company, BEL’s turnover has been on a steady rise. The Company recorded a turnover of Rs. 5,219.77 crores and Profit Before Tax of Rs. 1,045.02 crores in 2009-10. 

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