Government to give cash vouchers in lieu of LTC this year

13 oct 2020

Government to give cash vouchers in lieu of LTC this year

The Finance Minister of India, Mrs. Nirmala Sitharaman announced new proposals which would boost demand in the economy amid coronavirus pandemic. The proposals have been classified into two different compartments- consumer spending and capital expenditure. There is an urge to increase consumer demand. These proposals would directly increase the GDP of India. The consumers have been provided with vouchers and special festival advance scheme under this. The target consumers are government employees and other organized sector. Money will be given based on three slabs which can be used to buy choice goods. Permit of 12% GST or more is allowed. Buyers can buy goods only from GST registered sellers. This spending has to be completed by March 31, 2021. A prepaid Rupay card will be given to avail festival offers. Measure are taken to curb inflation rates which is a result of COVID 19 pandemic.