The Jammu and Kashmir administration on Wednesday announced an additional two per cent dearness allowance (DA) for its state government employees and pensioners.
The state administrative council (SAC), which met here under the chairmanship of Governor Satya Pal Malik, sanctioned the release of an additional installment of 2 per cent DA, with effect from July 1 this year over the existing rate of 7 per cent of the basic pay/pension, an official spokesperson said.
The impact on the exchequer would be Rs 118 crore for the current financial year and approximately Rs 177 crore annually, the official said.
The enhancement would benefit around 4.50 lakh state government employees and 1.60 lakh pensioners, the official added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)