New Delhi: Before the festivals, the Modi government has given a gift to govt. employees. To boost demand in the economy, the government has introduced 2 proposals for employees this year. The first is ‘LTC Cash Voucher Scheme’ and the second is ‘Special Festival Advance Scheme’. These vouchers can only be used to purchase non-food items. Under the Special Festival Advance Scheme, festival advance will be given to government employees for Rs 10,000. Also, the ticket fare will be paid in cash to the employees in LTC.
Finance Minister Nirmala Sitharaman made the announcement at a press conference on Monday. He said that employees can buy products with a GST rate of 12 percent or more using those vouchers. Second, every four years, the government gives LTC to its employees to go to the destination of their choice. In addition, an LTC will be given to them to go to their state.
LTA will be available in cash The Finance Minister said that LTC cash voucher scheme and special festival advance scheme will be launched. The amount will be given in advance for LTA expenditure to stimulate demand. The government’s expenditure on cash for LTC would be Rs 5,675 crore. 1,900 crore will be given to PSUs and banks.
Milega Festival Advance Also, 10,000 rupees will be given to government employees as festival advance. So that government employees have money for shopping during festivals.
Schemes launched to increase demand The epidemic adversely affected the economy. The needs of the poor and weaker sections were met through several government announcements. The supply bottleneck was reduced but consumer demand still needs to be encouraged.