7th CPC: In the recent past, despite the Corona virus epidemic, the Modi government has taken several steps to provide relief to the central employees. In this sequence, the Central Government introduced the Special Festival Advance Scheme i.e. Special Festival Advance Scheme for all its employees. Under this, advances will be given to government employees for expenses in the festive season without interest. 7th Pay Commission: Central employees get one more big news before Diwali
According to the Finance Ministry, a special festival advance scheme for non-gazetted employees as well as gazetted employees is being revived as a one-time measure to stimulate demand. All central government employees can get an interest free advance amount of Rs 10,000 to be spent till 31 March 2021 depending on their festival choice.
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This interest free advance amount is recoverable from the employee in maximum 10 installments. Employees will get a pre-loaded RuPay card of advance amount. The government will bear the bank charges of the card. The disbursement of the advance amount through RuPay Card ensures a digital mode of payment, which will result in tax revenue and encourage honest businesses.
A lump sum disbursement amount of Special Festival Advance Scheme (SFAS) is expected to be around Rs 4,000 crore. If all the state governments give SFAS, then another amount of Rs 8,000 crore is expected to be disbursed.