The best feature of this 'Holi advance' is that it is interest-free and can be returned in 10 easy instalments.
There is good news for central government employees as they are being offered a Special Festival Advance Scheme before Holi. This provision was not present before the implementation of the 7th pay commission.
Under the 6th pay commission, the government provided Rs 4,500 as an advance scheme. This year, however, central government employees can avail an advance of Rs 10,000 and that too without any interest. The last date to take advance under the Special Festival Advance Scheme is March 31, 2021.
Finance Minister Nirmala Sitharam had earlier stated that the advance being given for festivals will be preloaded. This essentially means that advance money will already be in the accounts of central government employees and they can make use of that money
The best feature of this 'Holi advance' is that it is interest-free and can be returned in 10 easy installments. The central government employees can avail this loan through the prepaid RuPay card provided to them. Moreover, the state governments can also provide a festive advance in conformity with the festive advance provided by the union government.
As per the 6th pay commission, non-gazetted officers and employees could avail a festive advance of Rs 4,500 but under the 7th pay commission employees are being offered an advance of Rs 10,000. But it should be noted that Holi advance is for this financial year and employees have to spend the received money before March 31, 2021.
The union government had earlier decided to restore their three pending instalments of Dearness Allowance (DA) and Dearness Relief (DR) from July, providing huge relief to central government retired pensioners employees.
"Three pending installment of Dearness Allowances of central government employees and Dearness Relief for pensioners to be restored prospectively. The rates will be subsumed in the cumulative revised rates of DA," Minister of State (MoS) for Finance Anurag Thakur said in the written reply to Rajya Sabha.
In view of the COVID-19 pandemic, the government froze the additional installment of DA for central government employees and DR for pensioners which was due on January 1, 2020, July 1, 2020 and January 1.
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 "7th Pay Commission: Big Holi advance for central government employees")
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