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

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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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