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 Festival Advance form 2021
Special Festival Advance form 2022

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.

Scheme Special Festival Advance
Under Ministry of Finance
Amount Rs 10000/-
Apply online Festival Advance Scheme online apply
Beneficiaries Government Employees
Official portal doe.gov.in or finmin.nic.in

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

  • All central government employees can avail Special Festival Advance scheme, which was launched by Finance Minister Nirmala Sitharaman.
  • After abolishing advance schemes in the 6th pay commission. Under the recommendation of the 7th pay commission, Special Festival Scheme was launched in the year 2020.
  • The main motive behind the launch of Special Festival Advance scheme is to increase the demand in the market and provide financial stability to central government employees.
  • The budget of the scheme is Rs. 4000 crores.
SFA Scheme details
SFA Scheme details
  • Under this scheme, the central government employees will get the advance of Rs. 10,000 through a prepaid Rupay card, issued by SBI.
  • The employees will have to pay back the advance in not more than 10(ten) installments.
  • Beneficiaries can avail of the monetary benefit of the scheme by spending the advance before 31st March 2022, as this scheme is only for this financial year.
  • No interest will be charged from the beneficiaries on this Special Festival Advance.
  • The advance cannot be drawn in cash from ATM’s and goods purchased should be non-food items.
  • The purchase of the items should be made from GST-registered outlets.

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.

  • The central government employees will be granted Rs.10,000 festival advance that they can spend during the festival season.
  • Due to the outbreak of the Coronavirus pandemic, there has been a significant reduction in the spending of the people, therefore in order to generate more demand in the market, this Special Advance scheme was launched.
  • With the help of the advance, the beneficiaries will spend more money in the market, this will boost the economic stability in the country.
  • During festival seasons, more people are encouraged to spend. Therefore, the scheme aims at providing benefits to the employees and the overall economy of the country.
  • The scheme will help in boosting capital expenditure in the economy.
  • The beneficiaries have to pay back the advance to the government in ten installments.
  • A prepaid Rupay card will contain the advance that can be spent on goods and services.
  • This scheme is interest-free for the employees, to encourage spending among the employees.
  • The central government aims to spend Rs. 4000 crores under this scheme.
  • The state government is likely to disburse Rs. 4000 crores for the advance scheme.
  • The scheme is likely to boost consumer demand by Rs. 8000 crores.
  • This scheme is beneficial for the people to spend during festival seasons.
  • Due to the pandemic, the consumer demand in the economy had declined as people were discouraged to purchased new products or services. The advance scheme will boost the demand as people will buy new products with the advance available.

Special Festival Advance Benefits

Steps involved in availing the advance scheme

  • The procedure to apply for Special advance scheme is easy and convenient.
  • The beneficiary should go to the official website of the Special Advance Scheme.
Festival Advance 10000 apply online
Festival Advance 10000 apply online
  • After visiting the website, the homepage will appear in front of the beneficiary.
  • On the homepage, click on “apply now”.
  • After clicking on “apply now”, a new page will appear on the screen.
Festival Advance Application Form
Festival Advance Application Form
  • On the new page, the beneficiary will have to fill the necessary information.
  • After filling the information, the beneficiary should upload all the required documents.
  • After uploading the documents, click on “submit”.
  • The scheme should be applied before 31st march, 2022.
Official Portal Click here
MPNRC Home Click here

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