explain how index numbers are useful in determining dearness allowance?
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index numbers can be very useful in determining dearness allowance
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Index numbers are useful in determining dearness allowance:
- Dearness allowance is a type of allowance which is paid by the government to his employee as well as pensioner who has offset the impact of inflation.
- It helps enhance their employees to cope up with the increasing prices.
- It provides an employee to protect against the price rise in a specific financial year.
- It is calculated two times in every year. The month is January and July and for determining this allowance Index number is essential.
- It shows how the changing average of commodity prices, wages, etc. which is change over time.
To learn more about Dearness allowance:
Dearness allowance meaning
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Dearness Allowance to state Employees as per the Central Government was applied in which Chief Ministers rule?
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