7th pay commission: Odisha govt employees to get Rs 40 lakh HBA at 8% RoI

Acting on the recommendation of the 7th pay commission, the Odisha Government has increased the house building advance (HBA) amount to Rs 40 lakh from Rs 25 lakh.

The Naveen Patnaik government has also lowered the rate of interest to 8 per cent. Earlier, the rate of interest was 11.5 per cent.

According to the Chief Minister’s Office (CMO), the employees will get the amount in two installments (60-40 ratio). All the pensioners coming under the national pension scheme and all permanent employees of the state government will get benefit from the scheme.