Tuesday, June 30, 2009

Expected DA (Dearness Allowance) for Central Government Employees from July 2009 is 27%

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Expectations arise for rise in DA(Dearness Allowance) to 5% for Central Government Employees

Calculation based on All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100

All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of April, 2009 increased by 2 points and stood at 150 (one hundred and fifty).

All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of May,2009 increased by 1 point and stood at 151 (One hundred and fifty one).

For all the Central Government Employees there would be a rise in DA (Dearness Allowance) to 5%, which would result in the overall rise to 27% from 1.7.2009.

Month

Year

Base Year 2001=100

Total

Average

App. DA

DA

May

2008

139

1613

--

--

--

June

2008

140

1623

135.25

16.84

16

July

2008

143

1634

--

--

--

August

2008

145

1646

--

--

--

Sep

2008

146

1659

--

--

--

Oct

2008

148

1673

--

--

--

Nov

2008

148

1687

--

--

--

Dec

2008

147

1700

141.67

22.38

22

Jan

2009

148

1714

--

--

--

Feb

2009

148

1727

--

--

--

Mar

2009

148

1738

--

--

--

Apr

2009

150

1750

--

--

--

May

2009

151

1762

--

--

--

June

2009

--

--

--

--

27

Over ten million Central Government Employees and Pensioners may get five per cent additional Dearness Allowance from first July of 2009 (1.7.09).

CHB to facilitate central govt's housing scheme

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Chandigarh Housing Board (CHB) will play the role of facilitator for effective implementation of the Union government’s Interest Subsidy Scheme for Housing the Urban Poor (ISHUP).
The scheme aims at providing cheap home loan to economically weaker sections (EWS)/low income group (LIG) people for acquisition or construction of houses. With the assistance of NHB and HUDCO, CHB will pass out the benefits envisaged to EWS/LIG beneficiaries in forthcoming housing plan under the said scheme in Sector 63, Maloya and Dhanas.
The economic parameters for eligible EWS beneficiaries as per the scheme are households having an average monthly income up to Rs. 3,300/- and that for LIG beneficiaries are households having an average monthly income between Rs 3,301 and Rs 7,300. The subsidy will be 5% per annum on interest charged on the admissible loan amount for EWS and LIG, over the full period of loan for construction or for acquisition of a new house.
A high level meeting to sensitize all states about various aspects of the scheme and to ensure smooth passage of benefits under the scheme was conducted by the government of India and UT was represented by finance secretary Sanjay Kumar along with officers of CHB.
Kumar said the scheme will provide housing loan, with subsidized interest, for a period of 15-20 years with a maximum limit of Rs 1 lakh to an EWS individual for a house of at least 25 sq. mtrs.
Additional loan, if needed will be at unsubsidized rate of interest. Furthermore, the scheme lays down that for a LIG individual the maximum loan amount admissible will be Rs 1.60 lakh for a house of at least 40 sq. mtrs.
The government has appointed National Housing Bank (NHB) and Housing and Urban Development Corporation Ltd. (HUDCO) as nodal agencies for implementation of the scheme. The subsidy will be released by the government to nodal agencies who in turn will pass on the same to the banks and housing finance companies for disbursement of the housing loan.
The scheme further envisages that primary security for the housing loan will be mortgage of the dwelling unit and there will not be any other collateral security/third party guarantee for loans up to and inclusive of Rs 1 lakh and no prepayment charges would be levied by the banks/HFCs under the scheme.

Source: The Times of India



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