TheIndiaMedia website is for sale. Those who are interested to purchase can reach out to us at theindiamedia2020@gmail.com
Home » News » Dasara, Diwali Bonanza : Centre Govt To Give Rs 10,000 Advance To All Employees, 5 Rules About That

Dasara, Diwali Bonanza : Centre Govt To Give Rs 10,000 Advance To All Employees, 5 Rules About That

by Bellamkonda

HYDERABAD: In a good news to employees during the festive season of Dasara and Diwali, Finance Minister Nirmala Sitharaman announced a special Festival Advance Scheme for central government employees as a one-time measure on Today, October 12.

Even though the festival advances were abolished on the recommendation of the 7th pay commission, now the government has taken this decision to spur consumer demand in an economy hit by the coronavirus pandemic. The centre government released an order stating that it is recommended to restore festival advance to govt employees for festivals up to 31st January, 2021.

But everyone has to know about these 5 things before taking the festival advance.

1) The government will recover the interest free advance of Rs 10,000 and will be recovered in a maximum of 10 instalments.

2) This advance of Rs10,000  will be given to employees as a prepaid rupay card,  which can be used by them upto March 31, 2021.

3) The government is spending Rs 4000 crore under this  Festival Advance Scheme .

4) If the state governments an another budget of Rs 8000 crore is likely to be distributed.

5) With this an additional consumer demand generated will be of Rs 8000 crore

Related Articles

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More