before the festive season, the govt on Monday announced a slew of measures to spice up demand and consumer spending within the country. minister of finance Nirmala Sitharaman within the conference announced a one-time Rs 10,000 interest-free festival advance to all or any its officers and employees under the Special Festival Advance Scheme.
The scheme has been announced as a part of plans to extend consumer spending to spur demand within the economy which has suffered a blow from the pandemic. Finance Sitharaman said that the festival advance was discontinued from 6th Pay Commission for central government employees. But as a one-time measure, an interest-free advance are going to be given to all or any officers and employees of the central government.