Public Sector Unions (PSU) Employees likely to obtain 5.8% hike of Dearness Allowance (DA), benefiting its more than 50 lakh employees & pensioners according to calculations based on the All India Consumer Price Index(AICPI) figures for Industrial Workers for June, July & August 2012, IDA rate has increased by 5.8% from 61.5% to 67.3% w.e.f.1st October 2012 as / Report.
The hike will be effective from October 1, 2012.
The increase in DA is in accordance with the accepted formula which is based on the recommendations of the 2nd PSU Pay Commission. The relief comes in the backdrop of govt. increasing the diesel price by Rs 5 / litre & retail inflation crossing the double-digit mark.
I want to about its validity.