Special Festival Advance Scheme 2022 Online! Application Scheme
Special festival advance is a new scheme that was announced by Nirmala Sitharaman, the finance minister of India in 2020. This scheme is for the central government employees in order to make spending easier for the employees in the festival season. The other name for this scheme is Special Festival Advance Yojana. The ministry of finance launched this scheme for employees working for the government of India for the year 2020.
Special Festival Advance Scheme 2022
The ministry has provided with step-to-step procedure for the beneficiaries to avail the benefits of the scheme. This is good news for the central government employees. With the festival season coming ahead, people will shop more and will help in boosting the economy. The scheme can be applied online before 31 March 2022. This is a one-time scheme that is available till March 2022.
More about special festival advance scheme – Under the special festival advance scheme, the employees who are working for the central government will be granted some festival advance along with other advances. Advance on festivals was earlier removed but under the recommendation of the 7th pay commission. In 2020, due to the pandemic, many employees suffered to make the ends meet, so the government decided to provide special advances to the central government employees so that they can have a happy Diwali and can cherish other festivals.
Special Festival Advance Form online
The coronavirus pandemic had a huge impact economically on many employees. To restore the financial stability of the employees who were harshly hit by the pandemic, this generous scheme was launched. In this scheme, the government has provided central employees with Rs. 10,000 interest-free loan advance that they spend during the festival season. The advance is a one-time measure, which will be recovered by the government of India in ten installments.
Central government employees will get Rs 10,000 advance which will be interest-free and can be spent on goods and services by the employees. This amount of Rs 10,000 will be available through a pre-loaded Rupay card issued by SBI.
Special Advance Scheme Application Form 2022
The government stated that the government servants that are central government employees will be able to process the special festival advance scheme and for that the beneficiaries will be required to have prepaid cards from the State bank of India. The card will be used as the mode of payment as no other mode of payment is applicable under this scheme.
The objective of the scheme – The main objective of the scheme is to uplift the economic stability of the central government employees. Due to the pandemic, the financial condition of many employees was bad. This scheme will help to create demand in the economy by escalating the spending of the people.
Apart from the advance, the government will also give cash vouchers to the employees. The cash voucher is available for all non-food items. The items should be GST rated and should attract 12% or more tax. This cash voucher can also be used to avail of travel concession fares.
Special Festival Advance Program 2022
The goods and services should be purchased in a digital mode that is no cash should be involved in the transaction. The goods should be purchased from GST-registered outlets. The beneficiary of this advance scheme will be central government employees.
Before the issue of Special Festival Advance scheme, only non-gazetted officers were granted the benefit of advance schemes.
Highlights of the scheme
Festival Advance Scheme in Hindi
Special Festival Advance Eligibility criteria –
To be eligible for the Special Festival Advance scheme, an applicant should be a working officer of the Central Government. No other officer class is included in this scheme.
The government has stated that applicants who are eligible for the advance under the Special Festival advance scheme should spend the advance before 31st march, 2022. The registration for the scheme has started and beneficiaries should spend before the given date, in order to avail the benefits of the advance scheme.
Pros of scheme
There are several benefits of the Special Festival Advance scheme launched by the Ministry of Finance for the central government employees.
Special Festival Advance Benefits
Steps involved in availing the advance scheme