July 13, 2022
The Odisha government under the guidance of Chief Minister Shri Naveen Patnaik has increased house-building assistance for government employees. From existing 25 lakhs now it has increased to 40 lakhs.
This has been done on the basis of the recommendation of the Seventh Pay Commission, said an official press release issued by the Chief Minister’s Office (CMO) today. The interest rate has been also reduced to 8 percent. This loan will be disbursed to employees in two phases on a 60-40 ratio.
Earlier, as per house building assistance rules 2010, loan up to Rs 25 lakh was being given and the highest interest rate was 11.5 percent. Now, apart from increasing the house building assistance to Rs 40 lakh, the interest rate has been reduced to 8 percent.
All employees under the National Pension Scheme and all permanent government employees will be eligible for the assistance.
Story By- Saayak Karmakar, Resident Editor, Interview Times
Image Source- Google
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