7th Pay Commission: State Employees In Kerala Get One-Time DA Hike, Pension Scheme In Review

7th Pay Commission: Amidst a recovering economy, the Kerala government presented its 2024 budget today, offering welcome news for state employees and pensioners. Finance Minister KN Balagopal confirmed that one installment of Dearness Allowance (DA) for government employees and pensioners would be disbursed in April 2024.

In addition to the DA update, Minister Balagopal announced an assured pension scheme for employees, with plans to review the existing contributory pension scheme. However, he clarified that there would be no increase in social security pensions.

The Economic Review report presented in the Kerala Assembly on February 2 highlighted steady economic growth for the state in 2022-23, with the Gross State Domestic Product (GSDP) witnessing a 6.6% increase at constant prices.

Beyond the financial aspects, the government revealed plans to increase stamp duty for land and building lease agreements, along with a further hike in liquor prices within the state.

Allocating Rs 553.31 crore for social security and welfare programs, Finance Minister Balagopal disclosed that an international AI conclave, in collaboration with IBM, is scheduled for July 2024.

Highlighting the government's broader goals, Balagopal emphasized attracting investments in higher education and allocating Rs 50 crore to enhance tourism at 20 destinations.

This move aligns with the trend set by various state governments, including West Bengal, Meghalaya, and Punjab, which had previously announced DA hikes for their employees. Punjab revealed the salary hike on December 18, Meghalaya on December 20, and West Bengal on December 21, 2023.