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Nirmala Sitharaman announces LTC Cash Voucher Scheme and Special Festival Advance: Live Updates

Nirmala Sitharaman
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Finance Minister Nirmala Sitharaman

Highlights

Nirmala Sitharaman today announced that government employees can avail cash vochure for LTC if they cannot travel due to the ongoing pandemic.

Nirmala Sitharaman today announced that government employees can avail cash vochure for LTC if they cannot travel due to the ongoing pandemic. Employees can make use of this money to buy items with 12% or more GST. Employees can spend these vouchers only through digital mode and only at places registered under GST before 31st March 2021.

Finance Minister Nirmala Sitharaman also mentioned that the consumer demand will get a boost of Rs 5,675 crore by central government employees availing the LTC cash voucher scheme and the same for PSUs will be Rs 1,900 crore.

Consumer demand of nearly Rs 28,000 crore will be generated from the LTC cash voucher scheme.

Sitharaman also announced a one-time festive advance of Rs 10,000 for all central government employees, irrespective of designation.Employees will get interest-free festival advance as a prepaid credit in RuPay cards, not in cash that can be withdrawn from ATMs.

The consumer demand is likely to get a boost of Rs 8,000 crore due to festive advance to government employees.

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Live Updates

  • 12 Oct 2020 8:12 AM GMT

    Capital expenditure on infrastructure building has a greater multiplier effect on the economy and that's why it is one of the most favourable move: FM Sitharaman

  • 12 Oct 2020 8:11 AM GMT

    Employees will get interest-free festival advance as a prepaid credit in RuPay cards, not in cash that can be withdrawn from ATMs: FM Sitharaman

  • 12 Oct 2020 8:09 AM GMT

    Government announces a one-time festive advance of Rs 10,000 for all central government employees, irrespective of designation.

  • 12 Oct 2020 8:08 AM GMT

    Consumer demand of nearly Rs 28,000 crore will be generated from the LTC cash voucher scheme: FM Sitharman

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