PSU NEWS
Big Diwali gift for SAIL officials
NEW DELHI. The top management of Steel Authority of India (SAIL) has recommended 5 percent dearness allowance, DA increase for its officer grade employees. The public sector undertaking has written to the Minister of Labor and Employment Santosh Gangwar in this regard. If the SAIL management’s recommendation regarding DA increase is accepted, the officer grade SAIL employees will get a monthly increment of Rs 5,000. According to sources, SAIL has recommended an increase in the grade DA of its officer from October 1, 2019.
If the central government accepts the recommendations of the SAIL management, the DA of the SAIL officers will increase from 57.4 percent to 62.4 percent. Like any other public sector banks, PSU employee DA also increases quarterly after every three months. Being an ASU PSU, this is not an exception and its employees are entitled to DA increases on a quarterly basis. Generally, DA is increased keeping in view the Consumer Price Index (CPI) as DA is a hedge against the increase in inflation.
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