The Central Government has announced a significant hike in the Dearness Relief for pensioners, which will be effective from 01.07.2023. This decision comes as a relief for the pensioners who have been waiting for an increase in their monthly pension.
The Dearness Relief is a component of the pension that is provided to retired government employees to help them cope with the rising cost of living. It is calculated based on the Consumer Price Index for Industrial Workers (CPI-IW) and is revised twice a year – in January and July.
