House Building Advance to Central Govt Employees - Revision of Interest Rates

Sunday, February 17, 2013

House Building Advance to Central Govt Employees - Revision of Interest Rates

No.1-17011/2(6)/2013-H.III

Ministry of Urban Development

(Housing-III Section)

*******

 Nirman Bhawan, New Delhi.

 Dated:- the 17th January, 2013

OFFICE MEMORANDUM

 Subject:- Rates of interest on advances and loans to Govt. employees, for construction/purchase of houses/flats.

 The undersigned is directed to enclose herewith a copy of Ministry of Finance, Deptt. of Expenditure's O.M. No. 5(3)-B(PD)/2012 dated the 3rd January 2013 intimating the rates of interest on advances and loans given to Government employees for construction/purchase of houses/flats during 2012-13 i.e. 1st April, 2012 to 31St March, 2013 and until further orders, for information and compliance.

 Sd/-

 (S.K.Ram)

 Dy. Financial Adviser

No.5(3)-B(PD)/2012

Government of India

Ministry of Finance

Department of Economic Affairs

(Budget Division)

 Room No. 263-B, North Block,

 New Delhi dated the 3rd January, 2013.

Office Memorandum

        The undersigned is directed to state that the rates of interest on advances and loans given to Government employees for construction/purchase of houses/flats during 2012-13 i.e. 1st April, 2012 to 31st March, 2013 and until further orders will be as under:-

Slab                                       Interest Rate  percent per annum

 Advance upto Rs. 50,000/-        6.00

 Advance uto Rs. 1,50,000/-       7.50

 Advance upto  Rs. 500,000/-      9.00

 Advance upto  Rs. 7,50,000/-     9.50

          Ministry of Urban Development is requested to issue separate O.M. at their level on the above issue.

 This issues with the approval of hon'ble Finance Minister.

 Sd/-

 (A.K. Bhatnagar)

 Under Secretary (Budget)

'Merger of 50% of DA and DR with basic pay' - Finance Ministry not agreed to the Demand

Sunday, February 3, 2013

'Merger of 50% of DA and DR with basic pay' - Finance Ministry not agreed to the Demand

  The below explanation was presented by the Minister of State for Finance Shri.Namo Narain Meena to the questions regarding merger of DA / DR with basic pay of Central Government employees and Pensioners in the Parliament on 14.12.2012.

 

Q:Whether various Associations/ Organisations of Central Government employees demanded merger of 50 per cent Dearness Allowance into the basic pay of Central Government employees and pensioners and the recommendation of the Sixth Central Pay Commission in this regard and action taken by the Government thereto?

Reply:Yes, A number of representations have been received from Associations/Organizations of Central Government Employees/Pensioners and individuals demanding merger of 50% of Dearness AHowance/ Dearness Relief with basic pay/pension respectively. The demand has been considered by the Government and not agreed to since the 6th Central Pay Commission has not recommended as such. 

The6th Central Pay Commission did not recommend merger of dearness allowance with Basic Pay at any stage. Government accepted this recommendation vide Government of India Resolution dated 29.08.2008.