7th Pay Commission: Central employees have received a wonderful gift from the Central Government on Holi. In view of the festival of Holi, he has been given a special festival advance of Rs 10,000 by the Ministry of Finance. This gift has been received till 31 March 2023.
7th Pay Commission latest news today: Central employees have received a big gift from the government on Holi. The Central Government has announced to give Special Festival Advance Scheme. Under this festival advance scheme, central employees will get Rs 10,000. Means employees can take an advance of Rs 10,000 on Holi and no interest will have to be paid on it. It can be spent anytime till March 31. Last year also the government had announced this for the central employees.
Money will already be credited in the account
Employees get this gift every year from the Ministry of Finance. The advance being given is pre loaded. This money will already be registered in the account of Central Government employees, they will only have to spend. The good thing is that government employees will not have to pay any interest for this advance. Also, the terms of repaying it are also very easy. With an installment of 1000 rupees, there is a rebate of returning the money in 10 installments.
Money will have to be spent digitally
An allocation of about Rs 4000-5000 crore is made under the Festival Advance Scheme. If sources are to be believed, the government also bears the bank charges of the advance scheme. Employees can spend this advance digitally only. Earlier, the government has also provided facilities like LTC Cash Voucher Scheme to the central employees.
What is the benefit in LTC?
The government had announced the Cash Voucher Scheme (LTC Cash Voucher Scheme) in the Travel Allowance Leave Scheme for government employees. Under this scheme, the cash amount received by the employees in lieu of travel allowance will be circulated in the market.
Will get the benefit of increased DA in March
Central employees will get the benefit of increased dearness allowance in the March salary. His DA has been increased by 4%. The minimum basic salary of Rs 18,000 has increased by a total of Rs 720 per month. At the same time, the maximum salary range of Rs 250000 will increase by Rs 12000.
