Bhubaneswar: The Odisha government increased house building assistance amount for its employees from the existing Rs 25 lakh to Rs40 lakh.
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 per cent.
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 per cent.
Now, apart from increasing the house building assistance to Rs 40 lakh, the interest rate has been reduced to 8 per cent.
All employees under the National Pension Scheme and all permanent government employees will be eligible for the assistance.
