The Punjab government on Saturday announced three per cent hike in the dearness allowance for government employees and pensioners, a move which will put a burden of Rs 480 crore on the state exchequer.
"The employees/pensioners are all set to get a 3 per cent hike in their Dearness Allowance (DA) with effect from November 1, 2019," Finance Minister Manpreet Singh Badal said in a statement here.
The state government described this announcement as 'Diwali bonanza' for employees and pensioners.
"The decision of the Punjab government will cost the exchequer an additional Rs 480 crore per annum," said the finance minister, adding the implementation of the decision coincides with the Diwali celebrations for the employees and pensioners.
The government would continue to ensure that the employees and pensioners get their due, irrespective of the state's fiscal situation, Badal said.
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