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Showing posts with the label LTC

Union FM Cuts COVID-Time Business Deals With Government Employees!

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  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

Union Budget-2020: The Optional Personal Income Tax Regime In India!

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Union Finance Minister Nirmala Sitharaman today presented the Union Budget for 2020-21 in Parliament. A few novelties are seen immediately: the Minister’s budget speech of more than 160 minutes proved to be the longest one in history; for the first time the Budget was presented in three innovative categories—Aspiration India, Economic Development and Caring Society with their divisions and sections; a new scheme of setting up solar pumps for farmers having barren lands thus allowing them to earn even without cultivation; identifying 100 water-stressed districts of the country for action in light of the looming water crisis; and a lucrative income tax regime of lower rates which only turns out to be optional. While economists and corporate stalwarts had been shouting all these months about boosting up the demand factor in view of a slowdown and growing unemployment the Budget didn’t list out specific measures to increase consumption or to provide more employment opportunities apart

The Costliest Travel Concession Ever!

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Most of the people in salaried class do get leave travel concession ( LTC ) annually or every two years. Depending on the employers the package benefits vary. If, by misfortune, you belong to the Government of India you do get LTC, but with repressively dictatorial conditions: You have to travel by Air India come what may as if it’s you people that makes the bankrupt airlines viable and competitive. You have to go over their special LTC counters and book your tickets physically with their options for your travel. Even if their pilots are on never ending strike you are not spared. And you have to ignore all cheaper air ticket offers available online. If your compulsory airline fails you at the last moment you can book only at the government appointed travel agencies most of which may not have online booking facilities. You can send in an application for booking and it hardly matters if your tickets arrive after your leave period is o

Air India: My Story

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We were scheduled to leave for our hometown Guwahati on 4 th May, 2011. It was my homecoming after more than year and of course some events and programs of Ragini fixed earlier. As I had very limited leave and events were fixed we could not afford to either cancel of postpone our trip. We booked or rather had to book with Air India (AI) long back because I , curse my decision, took the leave travel concession (LTC) offered by the Government of India every two years. With 8 days left for the journey the AI strike of greedy pilots began, but I never thought it would go on till then. When the strike seemed to be endless I got a little tense because if it continued and our flight got cancelled in the last minute I would not be able to book due to LTC compulsions and exorbitant private airlines prices. So I started taking advice from knowing people, sought permission to no avail and finally on 2 nd May decided to book refundable tickets on private airlines for safety. Meantime I k