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12 October 2020

Govt. employees will get cash vouchers for traveling, interest free Rs. 10,000 will also be found

Govt. employees will get cash vouchers for traveling, interest free Rs. 10,000 will also be found

  • Finance Minister Nirmala Sitaram announces LTC hard cash receipt and Festival momentum Scheme

  • The ruse will plus fundraiser employees of community sector banks

  • More than 1 crore main employees of the country will allowance

The innermost command nowadays ended a tall pronouncement to boost the reduced and alleviate financial hardships during the happy season. In this regard, Finance Minister Nirmala Sitaram announced the LTC money coupon and Festival momentum Scheme. Under the plot announced today, new than 1 crore employees of the foundation will be prearranged hard cash vouchers for donate go recognition (LTC). spaced out from this, under the festival press forward scheme, employees grow Rs. Up to Rs 10,000 will in addition be available.

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What is LTC Scheme?

Under this, management employees will induce a notes receipt from which they be capable of use and this will and boost the economy. Employees of known sector banks will in addition benefit. The money payment in lieu of LTC which will be digital will be for 2018-21. Under this guide or flat fare will be rewarded and it will be income tax free. For this the staff rent and other expenses be supposed to be three times.Similar possessions or army state to be full from the supplier registered in GST and payment has to be finished digitally. The finance minister believed this would create about Rs 28,000 crore in plead cheap through the preliminary of innermost and government employees.

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Festival Advance Scheme

The Finance Minister informed that the Festival Advance scheme is being launched only once again this year. Under this, entirely types of employees will be prearranged an early payment of Rs 10,000, which they tin deposit in 10 installments. A will be accessible until March 31, 2021.It will be issued as a prepaid card.Will provide interest free loans to the states


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To boost economic activity, the central government has given Rs. 12 thousand crore interest free loan. The loan has to be repaid in 50 years. It will have three parts- the first Rs. 2500 crore will be given to Northeast, Uttarakhand and Himachal. After this, as per the recommendation of the Finance Commission, Rs. 7500 crore will be given to other states.

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