7th Pay Commission Update: Central Government Employees To Get Rs. 10,000 As Holi Gift Under Festive Scheme

7th Pay Commission Update: In what can be a bonanza for the central government employees ahead of Holi, the Union Government is offering Rs. 10,000 as a Holi gift to its employees under the special festive scheme.

 

The decision by the central government under 7th Pay Commission (7 CPC) is a part of its Special Festival Allowance Scheme for CG employees and staff which must be availed before March 31, 2021.

7th Pay Commission Update: CG Employees Holi Gift

Under the Special Festival Advance Scheme, all central government employees, both gazetted and non-gazetted, are entitled to get an interest-free festival advance of up to Rs 10,000 in the form of a pre-paid RuPay Card to be spent by March 31, 2021, and recoverable in maximum 10 instalments.

The scheme of festival advance was abolished on recommendations of the 7th Pay Commission, but is now been revoked as a one-time measure to spur the demand in the economy and purchasing power of consumers.

Earlier, the Union Finance Minister Nirmala Sitharaman had said that the, "Special Festival Advance Scheme for non-gazetted employees is being revived as a one-time measure, for gazetted employees too. All central govt. employees can now get an interest-free advance of Rs. 10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021."

Maharashtra SSC, HSC Exams 2021: Board Exams To Be Held In Students' Own School, No Practical ExamsMaharashtra SSC, HSC Exams 2021: Board Exams To Be Held In Students' Own School, No Practical Exams

Nearly 48 lakh central government employees are likely to be benefited by the move. Currently, the CG employees are entitled to dearness allowance (DA) at the rate of 17 per cent.

In addition to this, the central government has decided to restore three pending instalments of Dearness Allowance (DA) and Dearness Relief (DR) from July to provide relief to its employees and retired pensioners.

In March, the Union Cabinet had approved a 4 per cent hike in the DA and DR of central government (CG) employees and pensioners (7th pay commission) respectively, over the existing 17 per cent taking it to 21 per cent, which stood cancelled July 2021 due to COVID-pandemic.

RRB NTPC 6th Phase Admit Card To Be Released SoonRRB NTPC 6th Phase Admit Card To Be Released Soon

For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

--Or--
Select a Field of Study
Select a Course
Select UPSC Exam
Select IBPS Exam
Select Entrance Exam
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X