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Can hike in Dearness Allowance boost consumer spending?
Union Minister Anurag Thakur on July 14, 2021 announced hike in Dearness Allowance from 17 per cent earlier to 28 per cent for government employees and pensioners w.e.f. July. This will increase the take-home salary while pensioners will also get additional support. But will it result in higher spending? Let's find out