7th Pay Commission latest news today - Video: It is nothing short of a Diwali dhamaka for central government employees and pensioners too! The PM Narendra Modi-led Cabinet today announced a 5 per cent Dearness Allowance and Dearness Relief (DR) hike, which will put a big amount of money in their hands. However, notably, this decision has been quite late in being announced as it was expected over a month and more ago. Nevertheless, now that it has been announced, there is joy in the extended central government staffers and pensioners community. This big decision will benefit over 1.1 cr employees and pensioners. This 7th CPC based DA hike represents an increase of 5% over the existing rate of 12% of the Basic pay/Pension that takes it to 17% and is to compensate for price rise.  This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Pay Commission. 

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The combined impact on the exchequer on account of 7th pay commission dearness allowance and Dearness Relief would be Rs 15,909.35 crore per annum and Rs 10,606.20 crore in the financial year 2019-20 (for a period of 08 months from July, 2019 to February, 2020).

WATCH this Zee Business video below on 7th Pay Commission Dearness Allowance Hike:

This 7th CPC decision will benefit about 49.93 lakh Central government employees and 65.26 lakh pensioners in the country.  The Dearness Relief (DR) to pensioners will be implemented from July 2019.

Also, the farmers of the country get the good news, the government has decided to extend the dates of the Aadhaar card linking to the scheme of PM Kisan Samman Nidhi Yojna. Now the farmers can link the Aadhaar card to the scheme until 30th November 2019.

Watch Zee Business Live TV below

Confirming the announcement for farmers, Union Minister Prakash Javadekar said that this decision will benefit crores of farmers of the country.