BHUBANESWAR: After introducing a portal for release of subsidy on purchase of electric vehicles (EVs), the State government has announced to provide interest free advance to its employees to buy the vehicles.The Electric Vehicle Policy 2021 had promised a slew of incentive packages, including interest free advance to government employees to promote EVs in the State to control the pollution emerging from fossil fuel used in vehicles.
As per the guidelines framed by the Finance department for sanction of interest free advance, the interest free advance for electric operated cars will be available only to Group-A and Group-B category of employees. The amount of advance is limited to 75 per cent (pc) of the cost of the EV subject to a maximum of Rs 15 lakh.
Similarly, interest free advance for electric two wheeler will be available to Group C and Group D employees and above. The advance amount is limited to 75 pc of the cost of the vehicle subject to a maximum of Rs 2 lakh. The advance amount will be recovered in 100 equal installments from the monthly salary of employees from subsequent months.
If any employee retires or dies without payment of full amount, the residual amount will be recovered from the arrears, leave salary, pension or gratuity before disbursements.If he/she resigns/quits from government service, the amount will be recovered under Odisha Public Demands Recovery (OPDR) Act.