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Central Govt Holidays 2023 | Dopt Orders on Holidays 2023
38% DA Order for Central Govt Employees wef 01.07.2022 - Finmin Orders 2022
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Kendriya Vidyalaya Class 1 Online Admission 2023-24 Latest Updates
Kendriya Vidyalaya Online Registration for Class 1 Admission 2023-24 will commence from 27.03.2023 (Monday) 10 'o' Clock Onwards
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Notional Increment on the Day of Superannuation
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Coverage under CCS (Pension) Rules CG employees appointment before and after 01-01-2004

Central Government Employees Festival Advance

Central Govt Holiday List 2023 PDF | Holiday Calendar 2023 India

Central Government Employees Festival Advance

Government announces Rs 10,000 interest-free festival advance to employees

Special Festival Advance Scheme for Central Government Employees

Under the special festival advance scheme, Ms. Sitharaman said, an interest free festival advance of Rs. 10,000/- will be made available to all government employees.

The government has announced a one-time interest-free festival of Rs 10,000 for all its officers and employees as part of a plan to increase consumer spending to boost demand in the economy.

1) Measures to Stimulate Consumer Spending

Proposals to stimulate consumer spending has two components

  • LTC Cash Voucher Scheme
  • Special Festival Advance Scheme

READ ALSO: Issuance of Pre-Loaded Rupay Cards for Government Servants as part of Special Festival Advance – CGA Order dated 31.12.2020

LTC Cash Voucher Scheme

Under LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment + 3 times ticket fare, to buy something of their choice. The items bought should be those attracting GST of 12% or more. Only digital transactions are allowed, GST Invoice to be produced.

The biggest incentive for employees to avail the LTC Cash Voucher Scheme is that in a four-year block ending in 2021, the LTC not availed will lapse, instead, this will encourage employees to avail of this facility to buy goods which can help their families.

READ ALSO: Special Cash Package equivalent in lieu of LTC Fare for Central Govt Employees Availed up to 31.03.2021

Estimated cost of LTC Cash Voucher Scheme: For Central govt. : ₹ 5,675 crore; for PSBs & PSUs: ₹ 1,900 crore.

Tax concessions for LTC tickets available for state govt. & private sector too, if they choose to give such facility, these employees too can benefit

Indications are that savings of govt. and organized sector employees have increased, we want to incentivize such people to boost demand for the benefit of the less fortunate. On a conservative basis, we expect the LTC Cash Voucher Scheme to generate additional consumer demand in the range of ₹ 28,000 crore.

READ ALSO: LTC Cash Voucher Scheme and Leave Encashment for Central Govt Employees – Finmin order dated 12-10-2020

– Union Finance Minister Smt. Nirmala Sitharaman

Special Festival Advance Scheme

Special Festival Advance Scheme which was meant for non-gazetted government employees is being revived as a one-time measure, for gazetted employees too. All central govt. employees can now get interest-free advance of Rs. 10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021.

The one-time disbursement of Special Festival Advance Scheme is expected to amount to Rs. 4,000 crore; if given by all state governments, another Rs. 8,000 crore is expected to be disbursed. Employees can spend this on any festival.

READ ALSO: Grant of Festival Advance to Central Government Employees – Finmin Order dated 12-10-2020

LTC voucher and festival advance scheme for CG Employees

Ms. Sitharaman informed that the new proposals aim at giving a thrust of around 36 thousand crore rupees to the consumer demands by the Leave Travel Concession LTC Voucher and Festival advance scheme.

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

Source: PIB

READ ALSO: Special Festival Package in Advance Before Diwali to Central Government Employees – Finmin Order dated 04.11.2020

Also Read:

  • Grant of Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for the year 2019-20 (DoE Order on 21-10-2020)
  • CG Employees Bonus 2020 (PLB and Non-PLB) Cabinet Approves Rs. 3,737 Crore
  • Productivity Linked Bonus (PLB) equivalent to 78 (Seventy Eight) days wages without any ceiling on wages for eligibility for the financial year 2019-20 to all eligible non-gazetted Railway employees (Railway Board Order on 20-10-2020)

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