Central Government Employees Propose Raising House Building Advance Limit Ahead of 8th Pay Commission

Ahead of the 8th Pay Commission, central government employee unions, including the Federation of National Postal Organisations, have proposed raising the House Building Advance (HBA) limit from Rs 25 lakh to Rs 75 lakh with an interest rate capped at 5%. They also suggest increasing the HBA to 60 times the monthly salary, reducing eligibility from five to two years, allowing loans for second-hand homes and renovations, and simplifying procedures. The government will consider these recommendations during the commission's review.