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Central govt employees to get Rs 10,000 interest-free festival advance: FM

Finance Minister Nirmala Sitharaman said festival advance was discontinued from 6th Pay Commission for central government employees

Govt employees | 6th Pay Commission | employees

Press Trust of India  |  New Delhi 

Employees of head post office resume work after Government offices opened with thirty per cent staff in attendance during the Covid-19 lockdown, in Jabalpur. Photo: PTI
An interest-free advance will be given to all officers and employees of the central government

The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and as part of plans to increase consumer spending to spur demand in the economy.

At a press conference, Finance Minister said festival advance was discontinued from for central government

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But as a one-time measure, an interest-free advance will be given to all officers and of the central government, she said. This Rs 10,000 advance will come as a pre-paid rupay card, which can be availed and spent by March 31, 2021.

The repayment will be in 10 installments, she said adding that Rs 4,000 crore is likely to be spent on this.

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First Published: Mon, October 12 2020. 13:55 IST