Even if the government did not this time announce dearness allowance (DA) for central employees. Yet, the Modi administration gave a substantial present to every central employee on the occasion of Holi. The government has said that it will offer its employees the Special Festival Advance Programme. Each central employee would receive Rs 10,000 under this program from the government. In other words, on the day of the celebration, government personnel may obtain an advance of Rs 10,000.
In addition to giving this present to thousands of central employee
the government will not require them to pay interest on the funds they receive. The deadline for spending this money is March 31. The Ministry of Finance gives this present to thousands of employees each year. The employees are receiving preloaded advance funds. Employees of the Central Government would already have this money registered in their salary accounts; all they need to do is use it.
The terms of repayment are pretty straightforward
and the best part is that government employees won’t be required to pay any interest on the money they received in advance. The conditions for repaying this money are also quite simple. You can repay 10,000 rupees in manageable installments of 1,000 rupees, and you can do so without paying interest. Under the Festival Advance System, the government annually distributes money to the workforce.
A five thousand crore allocation has been made
Four to five thousand crores are allocated under this national government plan. According to sources, the government also pays the bank fees associated with the advanced system. The advance payment that was made to the employees can be used digitally. Before, central personnel could take advantage of programs like the LTC Payment Voucher Program. The monetary sum that employees get in lieu of a travel allowance will be distributed in the market under this system.
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