The central government is likely to increase the Dearness Allowance by 3 per cent on the occasion of Holi. Under the 7th Pay Commission, the central government can offer a festival loan of Rs 10,000 to all central employees for Holi. It is likely to be announced by the end of February 2022.
Interest free amount
Under this scheme of the Central Government, all the employees will get Rs 10,000 as Holi Festival Advance. The employees will not have to pay any kind of interest on this money. This money will come in the form of pre-loaded advance in the bank account of all the employees.
Govt to spend Rs 10,000 Cr
As per the information, an allocation of about Rs 4,000-5,000 crore is likely to be announced under the Mahotsav Advance Plan. If the states also implement this scheme, then around Rs 8,000-10,000 crore will be spent. If sources are to be believed, the government may take bank charges for the advance scheme.
Hike in DA Allowance
Currently, the total Dearness Allowance (DA) is 31 per cent, which may increase to 34 per cent. With the hike of 3 per cent, the total will become 34 per cent. It will be implemented from January 1, 2022.