LTC Cash Vouchers Scheme & Special Festival Advance Scheme for Government Employees – Finance Minister Announces Schemes

LTC Cash Voucher

Finance Minister Nirmala Sitharaman today addressed the media on key economic issues. The following schemes are announced for Central Government Employees in this meeting :

  • The interest-free advance of Rs 10,000 under the Special Festival Advance Scheme to be paid back in 10 instalments.
  • The one-time disbursement of Special Festival Advance Scheme is expected to amount to ₹4,000 crore; if given by all state governments, another ₹8,000 crores is expected to be disbursed. Employees can spend this on any festival.
  • Special Festival Advance Scheme for non-gazetted employees is being revived as a one-time measure, for gazetted employees too. All central govt. employees can now get an interest-free advance of Rs.10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021
  • 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: Finance Minister
  • Employees will get pre-loaded Rupay Card of the advance value
  • Under LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment plus 3 times the ticket fare, to buy items that attract GST of 12% or more. Only digital transactions allowed, GST invoice to be produced, said Sitharaman.

Latest update on LTC Cash Voucher Scheme – Click here

Latest update on Special Festival Advance Scheme – Click here

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