THE NEWS FREEDOM
NEW DELHI, MARCH 7
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Thursday approved an additional installment of Dearness Allowance (DA) for Central government employees and Dearness Relief (DR) for pensioners, effective from January 1, 2024. This increment, totaling a 4 percent rise over the current rate of 46 percent of the basic pay and pension, aims to offset the impact of inflation.
While addressing the press conference, Union Commerce and Industry Minister Piyush Goyal said the combined financial implication on the exchequer, encompassing both DA and DR, amounts to Rs 12,868.72 crore annually. Approximately 49.18 lakh Central government employees and 67.95 lakh pensioners stand to benefit from this adjustment. The decision aligns with the established formula, rooted in the recommendations of the 7th Central Pay Commission.
#Cabinet approves hike in Dearness Allowance to Government employees and Dearness Relief to pensioners by 4% from January 1, 2024
Around 50 lakh employees and 68 lakh pensioners to benefit from this: Union Minister @PiyushGoyal#CabinetDecisions pic.twitter.com/N7Ao405X2v
— PIB India (@PIB_India) March 7, 2024
The Union Cabinet further cleared the continuation of targeted subsidies, amounting to Rs 300 per 14.2 kg cylinder (proportionately adjusted for 5 kg cylinders), for up to 12 refills annually for beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) during the fiscal year 2024-25. As of March 1, 2024, there are over 10.27 crore PMUY beneficiaries. The total expenditure for the financial year 2024-25 is estimated at Rs.12,000 crore, with subsidies directly credited to the bank accounts of eligible beneficiaries.
Additionally, in line with the vision of fostering indigenous innovation and leveraging artificial intelligence (AI) for national development, the Cabinet approved the comprehensive national-level IndiaAI mission, allocated with a budget of Rs.10,371.92 crore. This initiative aims to establish a robust ecosystem to drive AI innovation through strategic programs and partnerships across both public and private sectors. By democratizing access to computing, enhancing data quality, fostering indigenous AI capabilities, attracting top AI talent, facilitating industry collaboration, providing startup capital, promoting socially impactful AI projects, and upholding ethical AI standards, the mission endeavors to ensure responsible and inclusive growth within India’s AI landscape.