Breaking! 80% of Arrears DA to be Paid by the End of This Month, 80% in Account and 20% in GPF

DA News: A very important piece of news has emerged for the state government employees. The state government is about to take a major step regarding the long-pending Dearness Allowance (DA). According to sources from Nabanna, the state government has started preparations to pay 25% of the outstanding DA to the employees, and a notification in this regard may be issued very soon.

This move is undoubtedly a great relief for the lakhs of government employees and pensioners in the state. The information gathered from recent news sources is being discussed here.

Financial Arrangement and Funding

The total outstanding DA amount for the state government employees is approximately ₹40,000 crore. The state government is planning to pay 25% of that, which amounts to about ₹10,000 crore. The state government has already taken the necessary steps to arrange this huge sum of money. It is known that the state government has raised ₹4,000 crore from the Reserve Bank and another ₹4,000 crore through long-term State Government Securities.

In total, ₹8,000 crore is now in the hands of the state, which is 80% of the required amount. The government is also trying to arrange the remaining ₹2,000 crore.

DA Payment Method

The most important question is how this outstanding DA will be disbursed to the employees. According to sources at Nabanna, the plan is as follows:

• For In-Service Employees: 80% of the 25% outstanding DA will be directly credited to the employees’ salary accounts. The remaining 20% has been proposed to be deposited into the employees’ General Provident Fund (GPF) accounts. This will provide employees with cash in hand while also securing their future savings.
• For Pensioners: In the case of pensioners and family pensioners, the entire outstanding amount will be directly deposited into their pension accounts. There will be no GPF deposit for them.

Through this method, the state government can initiate the process of clearing the dues with the currently available ₹8,000 crore and will get some more time to arrange the remaining ₹2,000 crore.

Legal Review

A review has already begun to determine the legal validity of depositing a portion of the DA into GPF accounts. The state government is seeking the opinion of legal experts on this matter to avoid any future legal complications or contempt of court allegations. Chief Minister Mamata Banerjee has held several meetings with officials from the finance department and has directed them to arrange for the payment of the outstanding DA within this week.

Overall, the state government employees are very close to receiving a portion of their long-awaited DA arrears, which will help improve their financial situation.