7th Pay Commission latest news : Central employees have received a big gift from the government on Holi . It has been announced by the Central Government to give Special Festival Advance Scheme .
Central employees will get Rs 10,000 under this festival advance scheme. Means central employees can take an advance of Rs 10,000 on Holi. They will not have to pay any interest on this. The central government had announced this for the central employees last year as well.
Money will be credited to the account
This gift is given to the employees every year by the Ministry of Finance. This is called Advance Pre Loaded. The money coming into the account will have to be spent by the Central Government employees only before March 31. The best thing about this scheme is that the employees do not have to pay any interest on this advance. Along with this, the terms of repaying this loan are also very easy. There is a rebate of returning this money in 10 installments at the rate of Rs 1000 per month.
An allocation of about Rs 4000-5000 crore is made annually by the Ministry of Finance under the Festival Advance Scheme. Employees can spend this advance digitally only. Earlier, the government used to provide facilities like LTC Cash Voucher Scheme to the central employees.
The benefit of increased DA will be available in March
Central employees will get the increased dearness allowance in the salary of March. 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.
