Holi gift to central employees! Govt may give Rs 10,000 as festive advance

Categories: NEW SCHEMES

                  7th Pay Commission -- In a bid to stimulate consumer spending in the economy in an effort to fight the slowdown due to the ongoing COVID-19 pandemic, the government might announce Special Festival Advance Scheme before the festive season of Holi, media reports said. The central government under the scheme will give Rs 10,000 to the central employees.The interest free advance will give a big boost to employees, who can spend the amount for the upcoming festivals, reports added.

                  The employees were provided a pre-loaded RuPay Card of the advance value. The Government also bore the Bank charges of the card. Disbursal of advance through RuPay card ensures digital mode of payment, resulting in tax revenue and encouraging honest businesses. The one-time disbursement of Special Festival Advance Scheme (SFAS) was estimated to amount to Rs. 4,000 crore.