Govt announces a Leave Travel Encashment Scheme & Festival Advance Scheme for govt employees to boost consumption
The fare (for roundtrip to home & back) to be tax free, provided employee spends 3 times the amount in goods that attract GST over 12%; must spend before March31 2020
If Central govt employees sue this scheme Rs 5675 cr wil be spent; if PSU employees opt for this scheme, that will mean expenditure of Rs 1900 cr; and if state govt employees too opt, a further Rs 19,000 cr of money may be expended
I meant " use this scheme"
Festival Advance Scheme: Govt Employees may avail of an interest free advance of up to Rs 10000, which can be repaid in 10 instalments. Facility to be available via rupay card. Money has to be spent, not encashed
Festival advance scheme can amount to an expenditure of Rs 4000 cr by central govt employees and upto Rs 8000 cr by state govt employees
Capital expenditure scheme: States to be given interest free 50-year loan for capital exp; must be spent by March 31. Can be used by to pay pending capex bills. States will qualify if they fulfill 3/4 reform conditions given earlier: one nation-one ration card, power reforms etc
Repeating : States will get Rs 2000 cr more, if they fulfill 3/4 reforms mentioned in atmanirbhar package : such as one-nation-one-rationcard; power reforms etc.
Govt to spend additiona Rs 25000 cr in capex for corads, defence infra, water supply, urban devt. This is in addition to budgeted capex of 4.12 lk cr
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