The 7th Pay Commission recommended to abolish the Festival Advance to Central Government employees in its report. Now, the Centre has decided to restore the Festival Advance for Central Govt employees.
Special Festival Advance Scheme is being revived as a one-time measure. All central govt. employees can now get interest-free advance of Rs. 10,000, recoverable in maximum 10 installments: Finance Minister.
Interest-free advance 2020
Special Festival Advance Scheme for non-gazetted employees is being revived as a one-time measure, for gazetted employees too. All central govt. employees can now get an interest-free advance of Rs.10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021
Special Festival Advance Scheme is being revived as a one-time measure. All central govt. employees can now get interest-free advance of Rs. 10,000, recoverable in maximum 10 installments: Finance Minister
The interest-free advance of Rs 10,000 under the Special Festival Advance Scheme to be paid back in 10 instalments.
The one-time disbursement of Special Festival Advance Scheme is expected to amount to ₹4,000 crore; if given by all state governments, another ₹8,000 crores is expected to be disbursed. Employees can spend this on any festival.
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