7th Pay Commission Latest News Today: At a time when the Centre has announced massive festive bonanza to the Central government employees, the Maharashtra State Road Transport Corporation (MSRTC) on Tuesday announced a mega Diwali bonazan for tits employees and hiked the dearness allowance (DA) to 17 per cent from the existing 12 per cent. As per the reports, the DA hike from the MSRTC will benefit around 95,000 employees.Also Read - 6th Pay Commission: THIS State Announces New Pay Scales For Its Employees. Check Details Inside

The MSRTC said that the October salary of employees will be paid before the Diwali festival on November 1 instead of the scheduled 7th day of each month. Apart from this, the MSRTC also announced “Diwali Bhet” (bonus) of Rs 2,500 and Rs 5,000 to its employees and officers, respectively. Also Read - 7th Pay Commission: Good News For Govt Employees. They Are Likely to Receive Another 3% DA Hike in January 2022

The move from the MSRTC comes a week after the Union Cabinet approved an increase of 3 percentage points on DA and Dearness Relief (DR) for central government employees and pensioners from 28%. Also Read - 7th Pay Commission: Good News For Central Govt Employees. Their Basic Salary Likely to Increase in New Year | Here’s How

With this, the DA of the Central government employees will increase to 31%. Earlier in the day, the Finance Ministry issues a notification saying that the hike will come into effect from 1 July 2021.

Interestingly, the new hike in DA comes just days ahead of Diwali and is aimed to benefit over 47 lakh employees and 68.62 lakh pensioners.

Apart from hiking the DA and announcing Diwali bonus, the MSRTC has also hiked fares across all its services, except night express buses, with ticket prices going up by a minimum of Rs 5.