FinMin released Dearness Allowance Order to Central Government Employees effective from Jan 2023
No.1/1/2023-E-II (B) Government of India Ministry of Finance Department of Expenditure
North Block, New Delhi Dated the 3rd April, 2023.
OFFICE MEMORANDUM
Subject: Revision of rates of Dearness Allowance to Central Government employees effective from 01.01.2023.
The undersigned is directed to refer to this Ministry’s Office Memorandum No. 1/3/2022-E-II(B) dated 3rd October, 2022 on the subject mentioned above and to say that the President is pleased to decide that the Dearness Allowance payable to Central Government employees shall be enhanced from the existing rate of 38% to 42% of the Basic Pay with effect from 1st January, 2023.
2. The term ‘Basic Pay’ in the revised pay structure means the pay drawn in the prescribed Level in the Pay Matrix as per 7th CPC recommendations accepted by the Government, but does not include any other type of pay like special pay, etc.
3. The Dearness Allowance will continue to be a distinct element of remuneration and will not be treated as pay within the ambit of FR 9(21).
4. The payment on account of Dearness Allowance involving fractions of 50 paise and above may be rounded to the next higher rupee and the fractions of less than 50. paise may be ignored.
5. These orders shall also apply to the civilian employees paid from the Defence Services Estimates and the expenditure will be chargeable to the relevant head of the Defence Services Estimates. In respect of Armed Forces personnel and Railway employees, separate orders will be issued by the Ministry of Defence and Ministry of Railways respectively.
6. In so far as the persons serving in the Indian Audit and Accounts Department are concerned, these orders are issued in consultation with the Comptroller and Auditor General of India, as mandated under Article 148(5) of the Constitution of India.
(B. K. Manthan) Deputy Secretary to the Government of India
To
All Ministries/Departments of the Government of India (as per standard distribution list) Copy to: C&AG, UPSC, etc. as per standard endorsement list.
Revision of maximum limit for investment in National Savings (Monthly Income Account) Scheme, 2019
SB Order No. 07/2023
F. No 113-03/2017-SB(Pt.1) Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan, New Delhi -110001 Dated: 31.03.2023
To
All Head of Circles/Regions
Subject: Revision of maximum limit for investment in National Savings (Monthly Income Account) Scheme, 2019
Sir/Madam,
The undersigned is directed to convey the decision of Ministry of Finance (DEA) for amendment of National Savings (Monthly Income Account) Scheme, 2019 through National Savings (Monthly Income Account) (Amendment) Scheme, 2023 and revision of maximum investment limit for investment in National Savings (Monthly Income Account) Scheme, 2019 from ₹ four lakh fifty thousand to ₹ nine lakh in single account and from ₹ nine lakh to ₹ fifteen lakh in Joint Account. The copy of gazette notification G.S.R.239(E) dated 31.03.2023 issued by MOF(DEA) is enclosed.
2. Accordingly, In the National Savings (Monthly Income Account) Scheme, 2019, in paragraph 4, in sub-paragraph (2), –
(a) for the words “rupees four lakh fifty thousand”, the words “nine lakhs” shall be substituted;
(b) for the words “nine lakhs”, the words “fifteen lakh” shall be substituted.
3. It is requested to circulate it to all concerned for information, guidance and necessary action. Same may also be placed on the notice board of all Post Offices in public area.
4. This is issued with the approval of the Competent Authority.
Yours Faithfully
(Devendra Sharma) Assistant Director (SB-II)
NOTIFICATION New Delhi, the 31st March, 2023
G.S.R.239(E)—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme to further amend the National Savings (Monthly Income Account) Scheme, 2019, namely:-
1. (1) This Scheme may be called the National Savings (Monthly Income Account) (Amendment) Scheme, 2023.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the National Savings (Monthly Income Account) Scheme, 2019, in paragraph 4, in sub-paragraph (2), –
(a) for the words “rupees four lakh fifty thousand”, the words “nine lakhs” shall be substituted;
(b) for the words “nine lakhs”, the words “fifteen lakh” shall be substituted.
[F. No. 1/3/2023-NS] ASHISH VACHHANI, Addl. Secy.
Note : The Principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G. S. R. 917(E), dated the 12th December, 2019 and subsequently amended vide number G.S.R.286(E) dated the 5th May, 2022, G.S.R. 839(E) dated the 22nd November, 2022 and G.S.R. 55(E) dated the 27th January, 2023.
Dearness Allowance hike for Assam Government Employees from Jan 2023
At a Cabinet meeting held on Friday evening, Assam government decided to increase the dearness allowance (DA) for government employees by 4 per cent effective from January 1, 2023.
State Health Minister Keshab Mahanta said, “We have decided to increase DA from the existing 38 per cent to 42 per cent for all employees of central or state cadre working under the Assam government. The pensioners will also benefit from this DA hike.”
The state government is infusing an additional Rs 79.57 crore per month for the enhanced dearness allowance, Mahanta said.
Revision of maximum limit for investment in Senior Citizen Savings Scheme 2019
SB Order No. 06/2023
F. No 113-03/2017-SB(Pt.1) Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan, New Delhi -110001 Dated: 31.03.2023
To All Head of Circles/Regions
Subject: Revision of maximum limit for investment in Senior Citizen Savings Scheme, 2019.
Sir/Madam,
The undersigned is directed to convey the decision of Ministry of Finance (DEA) for amendment of Senior Citizen Savings Scheme, 2019 through Senior Citizen Savings (Amendment) Scheme, 2023 and revision of maximum investment limit for investment in Senior Citizen Savings Scheme, 2019 from ₹ fifteen lakh to ₹ thirty lakh. The copy of gazette notification G.S.R.240(E) dated 31.03.2023 issued by MOF(DEA) is enclosed.
2. Accordingly, In the Senior Citizens’ Savings Scheme (hereinafter referred to as the said Scheme), in paragraph 3, in subparagraph (7), for the words “fifteen lakhs”, the words “thirty lakh” shall be substituted.
3. It is requested to circulate it to all concerned for information, guidance and necessary action. Same may also be placed on the notice board of all Post Offices in public area.
4. This is issued with the approval of the Competent Authority.
Mahila Samman Savings Certificate 2023 introduction of new scheme: Circulation of Notification
SB Order No. 05/2023
F. No. FS-13/1/2023-FS-DOP Government of India Ministry of Communications Department of Posts (F.S. Division)
Dak Bhawan, New Delhi – 110001 Dated: 31.03.2023
To, All Head of Circles / Regions
Subject: Introduction of new scheme, “Mahila Samman Savings Certificate, 2023” circulation of Notification regarding.
***
Sir/Madam,
The Ministry of Finance (DEA) has issued notification G.S.R. 237(E) dated 31.03.2023 in connection with introduction of new scheme ‘Mahila Samman Savings Certificate, 2023”. This scheme shall be governed by this notification. Copy of the notification is enclosed.
2. Mahila Samman Savings Certificates, 2023 (MSSC): – Salient Features
(a) Type of Account
(i) Account under this scheme can be opened for an individual girl or woman in whose name the account is held.
(ii) On an application to the post office in prescribed form, a Single Holder Type Account may be opened on or before 31.03.2025 by a woman for herself, or by the guardian on behalf of a minor girl.
(b) Deposits
(i) A minimum of one thousand rupees and any sum in multiples of one hundred rupees may be deposited in an account. Thereafter, no subsequent deposit shall be allowed in the account.
(ii) There shall be a maximum limit for deposit of Rs. Two lakh in an account or in all accounts under this scheme held by an account holder.
(iii) An individual may open any number of accounts in the scheme subject to the maximum limit for deposit Rs. 2 Lakh and a time gap of three months between the existing account and the opening of another account. For example, an account holder who opened an account on 05.04.2023 with an amount Rs. 50,000, can open another account on or after 05.07.2023 with balance amount Rs. 1.50 lakh or part thereof.
(i) The rate of interest applicable to the deposits under this scheme is 7.5 per cent per annum. The interest shall be compounded on quarterly basis and credited to the account.
(ii) Post Office Savings Account interest shall be payable on an account opened or maintained, in contravention of this scheme.
(d) Withdrawal from account
(i) The account holder shall be eligible to withdraw for maximum up to 40 per cent of the eligible balance once after the expiry of one year from the date of opening of the account but before the maturity of the account by making application in prescribed form.
(ii) In case an account opened on behalf of a minor girl, the guardian may apply for the withdrawal for the benefit of the minor girl by submitting the following certificate to the post office namely: – “ Certified that the amount sought to be withdrawn is required for the use and welfare of Miss/Kumari …………………………………… who is a minor girl and is alive on this …………….. day ……………. of …………(month) …………. (year).
(e) Payment on Maturity
The account shall mature on completion of two years from the date of the account opening. Eligible Balance may be paid to the account holder on an application in Form-2 submitted to the post office concerned on maturity.
(f) Premature closure of account
(i) Account shall not be closed before maturity except in the following cases, namely:-
(a) On the death of the account holder,
(b) Where the post office is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the Account holder or death of the guardian, that the operation or continuation of the Account is causing undue hardship to the Account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the Account.
Note: – In case of premature closure an application from the account holder/guardian shall be obtained alongwith certificate of treating doctor or death certificate of guardian shall be obtained.
(ii) Where an account is prematurely closed under conditions mentioned in para (f) (i) above., interest on principal amount at the rate applicable to the scheme for which the account has been held shall be payable.
(iii) Premature closure of an Account may be permitted, any time after the completion of six months from the date of opening of an account by submitting prescribed form, for any reason other than mentioned in para (f) (i) above, in such cases account shall be eligible only for the interest rate less by two per cent points than the rate specified for this scheme (viz. 5.5%).
3. The provisions of the Government Savings Promotion General Rules, 2018 shall, so far as may be, apply in relation to the matters for which no provision has been made in this Scheme.
4. For operation of this scheme in Finacle a “Standard Operating Procedure (SOP) has been prepared and enclosed as Annexure.
5. Various forms prescribed for the scheme in the notification should be used. However, till the receipt of Form-1 for opening of account, existing SB-AOF form for opening of account may be used and it shall be ensured that declaration prescribed in para 3(2) of SB_AOF in respect of details of existing Mahila Samman Savings Certificate, shall be obtained from the account holder. For withdrawal from the account form SB-7C, for premature closure of account form SB-7B and for maturity closure form SB-7A may be used.
6. This may be circulated to all the Offices for information and necessary actions. A wide publicity should be given to this scheme on various platforms/modes.
7. This is issued with the approval of competent authority.
Encl: As above.
Yours faithfully (DEVENDRA SHARMA) Asst. Director (SB-II)
What is the interest rate for Mahila Samman Savings Certificate 2023?
The interest rate for Mahila Samman Savings Certificate 2023 7.5 per cent per annum
What is the minimum amount to be deposited for Mahila Samman Savings Certificate 2023?
The minimum of one thousand rupees and any sum in multiples of one hundred rupees may be deposited in an account for Mahila Samman Savings Certificate2023
What is the maturity period for Mahila Samman Savings Certificate?
The account shall mature on completion of two years from the date of the account opening. Eligible Balance may be paid to the account holder on an application in Form-2 submitted to the post office concerned on maturity
AICPIN for February 2023: Expected DA from July 2023
Consumer Price Index for Industrial Workers (2016=100) – February, 2023
TheLabour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and All-India and is released on the last working day of succeeding month. The index for the month of February, 2023is being released in this press release.
The All-India CPI-IW for February, 2023 decreased by 0.1 point and stood at 132.7 (one thirty two point seven) points. On 1-month percentage change, it decreased by 0.08 per cent with respect to previous month. A decrease of 0.08 per cent was recorded between corresponding months a year ago too.
The maximum downward pressure in current index came from Food & Beverages group contributing 0.1 percentage point to the total change. At item level, Cabbage, Cauliflower, Brinjal, Carrot, Onion, Potato, Peas, French-bean, Drum Stick, Kundru, Grapes, Sunflower Oil, Soyabean Oil, Mustard Oil, Poultry/Chicken, Eggs-hen and Fish Fresh etc. are responsible for the fall in index. However, this decrease was checked by Rice, Wheat, Wheat Atta, Buffalo Milk, Cow Milk, Pure Ghee, Garlic, Gourd, Lady’s finger, Parwal, Cumin Seed/Jira, Apple, Banana, Mango, Country liquor, Foreign liquor and Medicine Allopathic, etc. putting upward pressure on the index.
At centre level, Raniganj, Jalpaiguri and Puduchery recorded a maximum decrease of 1.8 points each. Among others, 5 centres recorded decrease between 1 to 1.4 points and 32 centres between 0.1 to 0.9 points. On the contrary, Amritsar recorded a maximum increase of 3.1 points. Among others, 7 centres recorded increase between 1 to 1.9 points and 37 centres between 0.1 to 0.9 points. Rest of 3 centres’ indices remained stationary.
Year-on-year inflation for the month stood at 6.16 per cent compared to 6.16 per cent for the previous month also and 5.04 per cent during the corresponding month a year before. Similarly, Food inflation stood at 6.13 per cent against 5.69 per cent of the previous month and 5.09per cent during the corresponding month a year ago.
Y-o-Y Inflation based on CPI-IW (Food and General)
All-India Group-wise CPI-IW for January, 2023 and February, 2023
Sr. No.
Groups
January, 2023
February, 2023
I
Food & Beverages
131.8
131.5
II
Pan, Supari, Tobacco & Intoxicants
151.4
152.2
III
Clothing & Footwear
132.8
133.0
IV
Housing
123.4
123.4
V
Fuel & Light
177.9
177.8
VI
Miscellaneous
130.2
130.4
General Index
132.8
132.7
CPI-IW: Groups Indices
The next issue of CPI-IW for the month of March, 2023 will be released on Friday, 28th April, 2023. The same will also be available on the office website www.labourbureau.gov.in.
Small Savings Schemes Interest Rate from April 2023 to June 2023
F.No.1/4/2019-NS Government of India Ministry of Finance Department of Economic Affairs (Budget Division)
North Block, New Delhi Date: March 31, 2023
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the first quarter of financial year 2023-24 starting from 1st April, 2023 and ending on 30th June, 2023 have been revised as detailed below:
Advances to Government Servants – Rate of interest for purchase of Computer during 2023-24
F.No. 5(2)-B(PD)/2023 Government of India Ministry of Finance Department of Economic Affairs (Budget Division)
North block, New-Delhi Dated the 29th March, 2023
OFFICE MEMORANDUM
Subject: Advances to Government Servants – Rate of interest for purchase of Computer during 2023-24.
The undersigned is directed to state that the rate of interest for advance sanctioned to the Government servants for purchase of computer during 2023-24 i.e. from 1st April, 2023 to 31st March, 2024 is as under:
F.No.31011/06/2023-Estt.(A-IV) Government of India Ministry of Personnel, Public Grievances & Pensions Department of Personnel & Training Establishment A-IV Desk
North Block, New Delhi. Dated: 29th March, 2023
OFFICE MEMORANDUM
Subject: Central Civil Services (Leave Travel Concession) Rules, 1988 – Fulfilment of procedural requirements
The undersigned is directed to refer to the above mentioned subject and to state that Government employees are allowed to encash 10 days earned leave at the time of availing of LTC to the extent of 60 days during the entire service. However, certain queries have been raised about whether to allow reimbursement of leave encashment or not in cases where the Government employees undertake journeys on private vehicles in areas connected by public transport or the Government servant himself decides to forgo his claim resulting in ‘Nil’ claim on journeys performed.
2. The matter has been considered and decided that since the leave encashment is limited upto 60 days in the entire service, the denial of encashment of leave would not be appropriate in such cases where the Government employee decides to forgo his claim of reimbursement for travel undertaken on private/hired vehicle or his claim is ‘Nil’, provided that:
(i) A Government employee intimates to the Department his intention to avail of LTC in advance and gets the leave sanctioned as per the prescribed procedure before the journey is undertaken;
(ii) The Government employee has submitted a request for leave encashment before the commencement of the journey;
(iii) The Government employee gives a self-declaration that he has actually travelled to the declared place of visit and is not claiming the fare reimbursement for the entire LTC journey.
3. It is further clarified that in the following cases, the Government employees are not required to forgo the fare-reimbursement for LTC Journey as per prevailing instructions:
(i) The Journey on LTC is made by taxi, auto-rickshaw etc, only between places not connected by rail and these modes operate on a regular basis from point to point with the specific approval of the State Governments/transport authorities concerned and are authorized to ply as public carriers;
(ii) Where a Government servant travels on LTC upto the nearest airport/railway station/ bus terminal by authorized mode of transport and undertakes the rest of the journey to a declared place of visit by private transport own arrangement (such as personal vehicle or private taxi, etc.), limited upto 200 KMs to and for;
(iii) When the Head of Department allows the use of own/hired taxi for an LTC journey on account of the disability of the Government servant or dependent family member as per the extant instructions.
4. It is also reiterated that, within the same block, when the LTC is being availed of by the Government servant and his family members separately, encashment of leave would be restricted to one occasion only.
5. Hindi version will follow.
(Satish Kumar) Under Secretary to the Government of India Tel: 2304 0341
Premature closure of NSC account pledged in favour of banks
SB Order No. 03/2023
No. FS-10/17/2020-FS Government of India Ministry of Communications Department of Posts (F.S. Division)
Dak Bhawan, New Delhi — 110001 Dated: 27.03.2023
To, All Head of Circles / Regions
Subject: Clarification on premature closure of NSC account pledged in favour of banks — Regarding.
***
Rule 7(1) of National Savings Certificate Scheme, 2019 provides that the account shall not be closed before maturity except in the following cases, namely: –
(a) on the death of the account holder in a single account, or any or all the account holders in a joint account;
(b) on forfeiture by a pledgee being a Gazetted Officer, when the pledge is in conformity with this Scheme;
(c) when ordered by a court.
2. Tamil Nadu Circle in Lr. No. SB/100-33/2020/Dlgs dated 11.01.2023 requested for clarification and guidance on premature encashment ofNSCs on forfeiture by the Senior Manager, Bank of India which is also a nationalized bank. Hence, the matter was taken up with the Department of Economic Affairs, Ministry of Finance.
3. In response, Department of Economic Affairs, Ministry of Finance in OM No. 14/3/2018-NS dated 20.03.2023 informed that the premature closure of the account is permissible under Paragraph 7(1) of National Savings Scheme. 2019 and can be done under this paragraph by following the prescribed conditions. A copy of the DEA, MoF’s OM is attached for reference.
4. This may be circulated to all the Offices for information and necessary actions. 5. This is issued with the approval of competent authority.
Encl: As above.
Yours faithfully (DEVENDRA SHARMA) Asst. Director (SB-II)
