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D.A. HIKE 1 % OF CENTRAL GOVERNMENT EMPLOYEE

D.A. HIKE 1 % OF CENTRAL GOVERNMENT EMPLOYEE

The Union government cleared a 1% increase in Dearness Allowance to central government employees and pensioners on Tuesday, and approved a bill to raise the gratuity ceiling for private sector employees.

The government increased Dearness Allowance and Dearness Relief to 5% from 4%, which will benefit around 49.26 lakh central government employees and 61.17 lakh pensioners, an official statement said.

The decisions were taken when Prime Minister Narendra Modi chaired his first Cabinet meeting since expanding his government.

Tuesday’s statement said the decisions regarding the gratuity and the dearness allowance were taken after considering inflation and wage increase in the case of people engaged in private sector. “The government is of the view that the entitlement of gratuity should be revised for employees who are covered under the Payment of Gratuity Act, 1972.”

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A mutual fund company is an investment company that receives money from investors for the sole purpose to invest in stocks, bonds, and other securities for the benefit of the investors. A mutual fund is the portfolio of stocks, bonds, or other securities that generate profits for the investor, or shareholder of the mutual fund. A mutual fund allows an investor with less money to diversify his holdings for greater safety and to benefit from the expertise of professional fund managers. Mutual funds are generally safer, but less profitable, than stocks, and riskier, but more profitable than bonds or bank accounts, although its profit-risk profile can vary widely, depending on the fund's investment objective.Most mutual funds are open-end funds, which sells new shares continuously or buys them back from the shareholder (redeems them), dealing directly with the investor (no-load funds) or through broker-dealers, who receive the sales load of a buy or sell order. The purchase price is the net asset value (NAV) at the end of the trading day, which is the total assets of the fund minus its liabilities divided by the number of shares outstanding for that day .Read


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