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50% DA to be merged with basic salary

February 03, 2004 12:54 IST
Last Updated: February 03, 2004 13:04 IST

Finance Minister Jaswant Singh while presenting the Interim Budget for fiscal 2004-05 in Parliament on Tuesday said 50 per cent of dearness allowance of the pay will be merged with basic salary of central government employees.

While stating that customs clearance to be on the basis of self assessment from June 30, Singh said e-filing of excise returns would be introduced from the very same date.

Singh also informed the House that non-lapsable defence modernisation fund of Rs 25,000 crore (Rs 250 billion) is also in the process of being created.

Singh said as much as Rs 11,145 crore (Rs 111.45 billion) savings was achieved in expenditure.

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