Festival Advance Increased to State Government employees and Civil and Teacher Pensioners

The Government of Tamil Nadu decided to increase the Festival Advance to Government employees, Teachers, Teaching and Non Teaching Staff of the local bodies, aided educational institutions and the employees who are eligible to draw the Festival advance, as per rules in force. The rate of festival advance is increased from Rs. 5000 to Rs. 10000.

The State Government of Tamil Nadu also decided to hike the festival advance to pensioners also. State civil pensioners and Teacher Pensioners both are eligible to get festival advance Rs. 4000.

The 7th Pay Commission has recommended to abolish all interest free advances including Festival advance and Flood Advance.Similar Posts:

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Bicycle Advance, Warm Clothing Advance

Festival advance, advance in the event of natural calamities like Flood, Drought, Cuclone etc

Advance of TA to a family of a deceased Govt. Employee.

Interest Bearing Advances:- The Pay Commission has recommended abolishing of Motor Car/Motor Cycle Advance.

Views of Indian Audit and Accounts Department

These advances may continued to be paid as per existing rules as these are admissible only to low paid employees upto Grade Pay of Rs.2800/- (Level 5)

These advances may continue to be paid as per existing rules as these interest free advances are payable to Group ‘B & C ‘employees as a welfare measure.

This advance may continue to be paid as per existing rules as this helps the family of a deceased Govt. employee to cope with immediate expenses for travel to their place of settlement.

The Pay Commission has abolished the Motor Car/Motor Cycle Advance on the plea that there are several schemes available in market. There are several schemes in the markets for House Building Advance also. However, the Pay Commission has not only recommended to continue with HBA but also proposed to increase the ceiling. Therefore, the plea of the commission to discontinue MCA on the basis that schemes for purchase of vehicles are available in the market does not hold good.

Further, several documentation/guarantees are required for seeking the said advances from the market. As it is convenient and safe for a Government Servant to avail such advances from the office without any hassles, these interest bearing advances may be continued as per the extant provisions.

Source: https://drive.google.com/file/d/0B7nIuoyYNiJUZkdmYWQySk1QTnM/view

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Advances to Government servants — Rate of interest for purchase of conveyances during 2015-2016.

F.No.5(2)-B(PD)/2015
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 3rd February, 2016

OFFICE MEMORANDUM

Subject : Advances to Government servants – Rate of interest for purchase of conveyances during 2015-2016.

The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2015-2016 i.e. from 1st April, 2015 to 31st March, 2016 are as under:

Rate of interest per annum

(i) Advance for purchase of conveyance other than motor car (viz. motor cycle, scooter etc.) – 9%

(ii) Advance for purchase of motor car – 11.5%

The rates remain unchanged from those applicable for the financial year 2014-15.

sd/-
(A.K. Bhatnagar)
Under Secretary (Budget)

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• GPF interest rate is presently fixed at par with that of PPF interest rate