Use Special Festival Advance Scheme 2023 – Announced by the financial Nirmala Sitaraman in 2020. The scheme is also known as Special Festival Advance. The scheme is launched for the government employees. This scheme will make the spending of the government employees easy during the festival season. It was started under the recommendation of the 7th pay commission. As we know back then everyone was suffering from the effect of Covid. So it was the best time to implement the recommendation by the 7th pay commission to give this Special Festival Advance Scheme. The government employees can celebrate the festival without much worrying about the expenses. In this article, we will give full information about this central government scheme for its employees. Read the full article to not miss anything on the 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 Scheme 2023
The scheme was a one-time measurement to stimulate demand. This allowed the economy to grow, and increase demand, and supply in the market. Resulting in economical growth. As this scheme provides Rs. 10,000 to the government employees during festivals. The choice of the festival is up to the employee. The interest-free advance can be paid back in a maximum of 10 installments. It made a change in the economical condition of many employees after the Covid pandemic. The amount of Rs. 10,00 will be given on the Rupay card by SBI only. And the beneficiary can spend it only digitally on goods and services. Moreover, it can only be used on googs and services from GST registered firms only.
Overview of Special Festival Advance
|Scheme||Special Festival Advance|
|Under||Ministry of Finance|
|Official Website||doe.gov.in or finmin.nic.in|
Eligibility for Special Festival Advance Scheme
The eligibility Criteria to apply for Special Festival Advance Scheme is:
- Only the employees working under the central government offices, Institutions are eligible. No other officer classes are included.
- Spending off the beneficiary amount should be done before 31st March 2023.
- The registration for the scheme has started and the beneficiary should spend before the date, in order to avail of benefits.
Objectives of Special Festival Advance Scheme
The objective of the governmetn by this scheme is:
- Financial aid to the central government employees.
- To increase the demand-supply in the market.
- Lift up the financial status of the employees so they can spend after the covid pandemic.
- It will help in Increasing the GST revenue.
Apply Online/ Application form for Spacial Advance Scheme
To apply for a special advance scheme follow the steps below:
- Firstly, the beneficiary needs to visit the official Website of the Special Advance Scheme.
- On the home page click on the Apply Online option.
- After clicking on apply now a new page will appear.
- Here the application form for Spacial Advance Schme will appear.
- Fill up the application form correctly with all the asked information.
- Upload all the required documents.
- Finally, click on the Submit button.
Note – You should apply for shame before 31st march 2023
Special Festival Advance 2023
Benefits of Spacial Festival Advance Scheme
The spacial festival advance scheme has many benefits some are below:
- During the festival, government employees will get Rs. 10,000 as Advance to spend during the festival times.
- The spending of many between people will increase as during the Covid it decreased significantly.
- Spending money by the people will help the economical recovery.
- The amount received by employees will be interest-free.
- The employees have to pay in installments that will not put a burden on the employees.
- The central government has the aim to spend Rs. 4,000 crores under the scheme.
- This will boost consumer demand by Rs. 8,000 crores.
- Spending for the employees will become easy during festival times.
Special Festival Advance Program 2023
The beneficiaries under the scheme are the central government employees. Use the amount only to purchase goods and services digitally. Means no purchasing with cash. Purchase only from the GST-registered outlets. Before this Spacial festival scheme, only non-gazetted officers use to get the benefits of advance schemes.
Highlights of the Special Festival Advance scheme
- The Central government-employed can take benefit from the scheme.
- The scheme was launched on the recommendation of the 7th pay commission.
- The objective of the scheme is to increase demand in the market to strengthen the economy.
- The budget for the scheme is Rs. 4,000 crores.
- The amount to the beneficiaries will be provided through Prepaid Rupay Card, Issued by SBI.
- The amount is interest-free and has 10 installments to return in total.
- The last date for spending the amount is 31st march 2023.
- A beneficiary can purchase from GST-registered outlets only.