There is a good news for the central government employees. The Modi government is offering Special Festival Advance Scheme before Holi. Under this provision the employees can take advance of Rs 10,000 in advance without any interest.
The last date to avail the cash under Special Festival Advance Scheme is March 31, 2021.
Earlier, Union Finance Minister Nirmala Sitharaman in her announcement had said that the advance that is being given for the employees for festivals will be preloaded. This money will already be there in the ATM of central government employees and they just need to spend.
As per the 6th Pay Commission, employees used to get a festive advance of Rs 4,500. But now the government is giving an advance of Rs 10,000. This decision is included in the Seventh Pay Commission.
Check out the details of the scheme below:
- The cash is an interest free advance and can be returned in 10 easy instalments.
- Employees will be given this loan in the form of prepaid RuPay card.
- State governments also have the option of offering festive advance on the lines of festive advance provided by the union government.