{"id":327501,"date":"2020-10-12T10:35:13","date_gmt":"2020-10-12T10:35:13","guid":{"rendered":"http:\/\/tehelka.com\/?p=327501"},"modified":"2020-10-12T10:35:13","modified_gmt":"2020-10-12T10:35:13","slug":"to-boost-demand-finance-minister-nirmala-sitharaman-announces-ltc-cash-voucher-scheme-special-festival-advance-for-central-govt-employees","status":"publish","type":"post","link":"https:\/\/tehelka.com\/to-boost-demand-finance-minister-nirmala-sitharaman-announces-ltc-cash-voucher-scheme-special-festival-advance-for-central-govt-employees\/","title":{"rendered":"To boost demand, Finance Minister Nirmala Sitharaman announces LTC cash voucher scheme, special festival advance for central govt employees"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: 'times new roman', times, serif;\"><a href=\"http:\/\/tehelka.com\/government-allows-commercial-mining-of-coal-defence-manufacturing-fdi-limit-raised-from-49-to-74-nirmala-sitharaman\/nirmala-1-2\/\" rel=\"attachment wp-att-323233\"><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-323233 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2020\/05\/nirmala-1-300x227.jpg\" alt=\"\" width=\"640\" height=\"484\" srcset=\"https:\/\/tehelka.com\/media\/2020\/05\/nirmala-1-300x227.jpg 300w, https:\/\/tehelka.com\/media\/2020\/05\/nirmala-1-80x60.jpg 80w, https:\/\/tehelka.com\/media\/2020\/05\/nirmala-1-555x420.jpg 555w, https:\/\/tehelka.com\/media\/2020\/05\/nirmala-1.jpg 683w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a>To boost consumer demand, Finance Minister Nirmala Sitharaman on Monday announced Special Festival Advance Scheme and LTC cash voucher scheme for all central govt. employees.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: 'times new roman', times, serif;\">Addressing a press conference, Sitharaman said, &#8220;Special Festival Advance Scheme is being revived as a one-time measure. All central govt. employees can now get interest-free advance of Rs. 10,000, recoverable in maximum 10 installments.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: 'times new roman', times, serif;\">&#8220;Under the LTC Cash Voucher scheme, government employees can opt to receive full payment for leave encashment of 10 days (pay+DA) plus tax-free payment of fare in three flat-rate slabs as per the class of entitlement. Employees opting for this scheme will be required to buy goods\/services worth three times the fare and one time leave encashment. Goods or services purchased should be attracting GST of 12% or more. The purchase should be made from a GST registered vendor through digital mode. Money should be spent before 31st March 2021,&#8221; Sitharaman said.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: 'times new roman', times, serif;\">Sitharaman further said, &#8220;The LTC Cash Voucher Scheme has the potential to generate demand worth about Rs 28,000 crore.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: 'times new roman', times, serif;\">&#8220;Indications are that savings of govt. and organized sector employees have increased, we want to incentivize such people to boost demand for the benefit of the less fortunate,&#8221; Sitharaman added.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To boost consumer demand, Finance Minister Nirmala Sitharaman on Monday announced Special Festival Advance Scheme and LTC cash voucher scheme for all central govt. employees. Addressing a press conference, Sitharaman said, &#8220;Special Festival Advance Scheme is being revived as a one-time measure. All central govt. employees can now get interest-free advance of Rs. 10,000, recoverable [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":323233,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[167,36],"tags":[13579,4753,13580],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/327501"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=327501"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/327501\/revisions"}],"predecessor-version":[{"id":327502,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/327501\/revisions\/327502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/323233"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=327501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=327501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=327501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}