Union FM Cuts COVID-Time Business Deals With Government Employees!
In a unique COVID-time measure to boost consumer demand in the pandemic-affected economy ahead of the festival season, the Union Finance Minister Nirmala Sitharaman offered a scheme of LTC (Leave Travel Concession) cash vouchers for shopping to all central government employees and PSU/PSB employees which is also open to be adopted by the state governments. This is apart from the grant of interest-free festival advance to the tune of Rs. 10,000/- in the form of loaded or pre-paid RuPay cards to all central government employees including the Gazetted segment, as a one-time measure which would be repayable in 10 equal installments. The thoughtful move of offering LTC cash vouchers is very well justified in view of the fact that throughout the last few months of 2020 government employees are not availing the LTC benefits due to widespread travel restrictions and also due to the general fear of travel, even if the cost is to be paid by the government. Under LTC rules in a block of