Modi Government Increases Dearness Allowance for Central Employees and Pensioners by 2%
The Modi government has announced a 2% rise in Dearness Allowance for central employees and pensioners, effective from January 1, 2025. This change boosts the DA to 55% of basic pay, benefiting over a crore individuals. Employees and pensioners will receive arrears for three months and see this hike reflected in April 2025 salaries. The government will incur an annual financial impact of ₹6,614.04 crore.
Federal Reserve Maintains Interest Rates Amid Economic Dynamics and Political Challenges
The Federal Reserve decides to keep interest rates steady amidst economic challenges and political dynamics. Chairman Jerome Powell underscores the Fed's independence and commitment to economic indicators over political pressures, amidst calls from President Donald Trump for rate cuts. As the U.S. economy shows signs of momentum, inflation remains above target, creating a complex landscape for future monetary policy decisions.
