NEW DELHI: The federal government on Monday introduced a one-time Rs 10,000 interest-free competition advance to all its officers and employees as a part of plans to extend shopper spending to spur demand within the financial system.
At a press convention, finance minister Nirmala Sitharaman mentioned competition advance was discontinued from sixth Pay Commission for central authorities workers.
However as a one-time measure, an interest-free advance shall be given to all officers and workers of the central authorities, she mentioned.
This Rs 10,000 advance will come as a pre-paid rupay card, which could be availed and spent by March 31, 2021.
The reimbursement shall be in 10 installments, she mentioned including that Rs 4,000 crore is more likely to be spent on this.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here