7th Pay Commission latest news today: Big 7th CPC Holi gift for central government employees coming; center offers Rs 10,000 advance under this scheme

7th Pay Commission latest news today: For all central government employees, there is a piece of good news ahead of Holi festival from the center. The Central Government had decided to offer Rs 10,000 festival advance under Special Festival Advance Scheme. Those central government servants who want to avail of this interest free festival advance should note that the last date to avail this benefit is 31st March 2021 and this is given once in a year only. That means, if a central government employee has not availed of this benefit earlier, then they can avail of this scheme in the upcoming Holi festival. The Department of Finance informed about the decision through an Office Memorandum (OM).

The Ministry of Finance confirmed about the Modi Government's decision and said, "With a view to enable Government servants to meet expenses relating to festivals and to encourage spending thereby giving a boost to economic activities, in pursuance of decision taken by the Government, it has been decided that a special festival package of advance will be accorded to all Government Servants for any important festivals up to 31st March 2021."

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The Ministry of Finance Office Memorandum further made it clear that the amount of the package is Rs 10,000 to be paid in advance to Government Servants. This amount is interest free. The amount would be released through a preloaded RyPay card of SBI.

"The festival package may be granted to a Government Servant if he/she is on government duty on leave excluding leave preparatory to retirement, on the date on which the advance is disbursed. The amount paid under this package is recoverable in not more than ten (10) instalments," the Ministry of Finance Office Memorandum read.

Earlier, the 6th Pay Commission used to give Rs 4,500 as festival advance but the Modi Government decided to increase this interest free festival advance to Rs 10,000 and the provision has been added in the 7th Pay Commission pay and perks list.