FM announces LTC cash voucher, special festival scheme to boost consumer spending
Oct 12, 2020
New Delhi, Oct 12 (ANI): Finance Minister Nirmala Sitharaman on October 12 addressed the media on key economic issues. Finance Minister announced LTC Cash Voucher and Special Festival Advance Scheme to boost the consumer spending. In the press conference, Sitharaman said, “Under LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment plus 3 times ticket fare, to buy items which attract GST of 12% or more. Only digital transactions allowed, GST invoice to be produced.” “Special Festival Advance Scheme for non-gazetted employees is being revived as a one-time measure, for gazetted employees too. All central govt. employees can now get an interest-free advance of Rs 10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021,” she added.