Sikkim Government approves 4% dearness allowance hike for employees, pensioners

The Sikkim government has approved a 4% increase in the dearness allowance for its employees and pensioners, effective retroactively from July 1, 2023.

Livemint, Written By Shivangini
Published11 Jun 2024, 12:18 PM IST
Chief Minister Prem Singh Tamang presides over the first cabinet meeting of the second Sikkim Krantikari Morcha government, where a 4% hike in dearness allowance for employees and pensioners was approved, effective from July 1, 2023.
Chief Minister Prem Singh Tamang presides over the first cabinet meeting of the second Sikkim Krantikari Morcha government, where a 4% hike in dearness allowance for employees and pensioners was approved, effective from July 1, 2023.(PTI)

The Sikkim government has approved a proposal to increase the dearness allowance (DA) by four percent for its employees and pensioners, with retrospective effect from July 1, 2023, officials announced on June 11, as per PTI.

The decision was made during the first cabinet meeting of the second Sikkim Krantikari Morcha government on June 10 evening, presided over by Chief Minister Prem Singh Tamang.

With this four percent hike, the dearness allowance for government employees and pensioners has risen to 46 percent, officials said.

Also Read | Watch | Moment when Israeli Police’s Yamam unit rescues 3 Gaza hostages after 245 days of captivity by Hamas militants

The increase in DA will have an impact of 174.6 crore on the state exchequer in the current financial year, they added.

In addition to the allowance hike, the cabinet meeting saw other crucial decisions, including the nomination of two-time SKM legislator Sanjeet Kharel as the Pro-tem Speaker of the 11th Sikkim Legislative Assembly. The 47-year-old MLA's nomination was part of the strategic moves by the newly re-elected SKM government.

Also Read | Adani Power share price Today Live Updates : Adani Power Stock Slides in Trading Today

Governor Lakshman Prasad Acharya is expected to administer the oath of office and secrecy to Kharel, setting the stage for the first session of the 11th Sikkim Legislative Assembly. During this session, Kharel will administer the oath to the newly-elected members, and the election of the assembly speaker will also take place.

Also Read | Indian Energy Exchange share price Today Live Updates : Indian Energy Exchange Surges in Positive Trading Today

Chief Minister Prem Singh Tamang, who took oath for his second consecutive term on Monday, along with eleven other ministers, has led the SKM to a commanding victory, securing 31 of the 32 assembly seats in the recent polls held concurrently with the Lok Sabha elections.

These developments mark a significant period of governance and administrative decisions in Sikkim, aimed at addressing both economic and leadership aspects in the state.

(With Inputs from PTI)

Catch all the Business News , Economy news , Breaking News Events andLatest News Updates on Live Mint. Download TheMint News App to get Daily Market Updates.

MoreLess
First Published:11 Jun 2024, 12:18 PM IST
Business NewsEconomySikkim Government approves 4% dearness allowance hike for employees, pensioners

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Power Grid Corporation Of India share price

    338.70
    03:50 PM | 26 NOV 2024
    -4.15 (-1.21%)

    Adani Power share price

    437.75
    03:58 PM | 26 NOV 2024
    -9.1 (-2.04%)

    Bharat Electronics share price

    297.80
    03:54 PM | 26 NOV 2024
    5.35 (1.83%)

    GAIL India share price

    193.90
    03:54 PM | 26 NOV 2024
    -5.25 (-2.64%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Piramal Enterprises share price

    1,197.35
    03:47 PM | 26 NOV 2024
    89.55 (8.08%)

    Laurus Labs share price

    545.00
    03:29 PM | 26 NOV 2024
    12.85 (2.41%)

    Wipro share price

    589.05
    03:58 PM | 26 NOV 2024
    6.3 (1.08%)

    Federal Bank share price

    213.55
    03:51 PM | 26 NOV 2024
    0.55 (0.26%)
    More from 52 Week High

    Poly Medicure share price

    2,775.00
    03:29 PM | 26 NOV 2024
    -227.7 (-7.58%)

    Adani Green Energy share price

    899.40
    03:59 PM | 26 NOV 2024
    -68.25 (-7.05%)

    DCM Shriram share price

    1,160.00
    03:29 PM | 26 NOV 2024
    -67.3 (-5.48%)

    Fortis Healthcare share price

    664.60
    03:59 PM | 26 NOV 2024
    -36.15 (-5.16%)
    More from Top Losers

    Piramal Enterprises share price

    1,197.35
    03:47 PM | 26 NOV 2024
    89.55 (8.08%)

    Triveni Turbines share price

    824.30
    03:54 PM | 26 NOV 2024
    60.4 (7.91%)

    Capri Global Capital share price

    210.00
    03:29 PM | 26 NOV 2024
    15.35 (7.89%)

    Vodafone Idea share price

    7.53
    03:59 PM | 26 NOV 2024
    0.55 (7.88%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      78,555.000.00
      Chennai
      78,561.000.00
      Delhi
      78,713.000.00
      Kolkata
      78,565.000.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.92/L0.00
      Chennai
      100.90/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in Economy

        HomeMarketsPremiumInstant LoanMint Shorts