Central Employees Get 3% DA Hike, Wheat MSP Raised by ₹150 to ₹2,425 per Quintal
A Surge in Gold Prices, Government's Boost for Central Employees, and Wheat MSP Increase
New Delhi: India is witnessing significant developments in the economic sector. Gold prices have hit an all-time high, central government employees received a boost in their dearness allowance (DA), and wheat farmers are benefitting from an increase in the minimum support price (MSP).
Gold Prices at Record High:
Gold prices soared to an all-time high of ₹76,553 per 10 grams in the domestic market. The surge is driven by global economic uncertainties, inflation concerns, and safe-haven demand. Investors are turning towards gold as a hedge against inflation, and this trend has pushed the precious metal to unprecedented levels. Analysts predict further price hikes in the near future.
3% Dearness Allowance Hike for Central Employees:
In a relief measure for central government employees and pensioners, the government announced a 3% increase in dearness allowance (DA). This move will provide additional financial support to over 48 lakh employees and 68 lakh pensioners, helping them cope with rising inflation. The DA hike, effective immediately, reflects the government’s efforts to address cost-of-living challenges.
Wheat MSP Increased by ₹150:
The Minimum Support Price (MSP) for wheat has been raised by ₹150 per quintal, bringing the new MSP to ₹2,425 per quintal. This increase aims to support farmers amid rising production costs and inflation. The MSP hike is expected to encourage wheat production and ensure better returns for farmers, contributing to food security and rural economic growth.