Interest-free 50-year loans to states for capital expenditure for ₹12,000 crore: Nirmala Sitharaman
4 years, 2 months ago

Interest-free 50-year loans to states for capital expenditure for ₹12,000 crore: Nirmala Sitharaman

Live Mint  

Finance Minister Nirmala Sitharaman today announced steps to stimulate consumer demand including advance payment of a part of the wages of central government employees for spending during the festival season, part of efforts to bolster the economy hit by the coronavirus pandemic. Here's are highlights of Finance Minister Nirmala Sitharaman's press conference: -We estimate that the measures announced today, for boosting consumer spending and capital expenditure, will boost demand by ₹ 73,000 crore, to be spent by March 31, 2021. employees can now get an interest-free advance of ₹10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021 -Special Festival Advance Scheme -Centre offers interest-free 50-year loans to States for capital expenditure for ₹12,000 crores, consisting of three components. GST Council meeting today Finance Minister Nirmala Sitharaman will later in the day chair Goods and Services Tax Council meeting through video conferencing.

Finance States Employees Demand Crore Minister Sitharaman Meeting Scheme Gst Nirmala Sitharaman Nirmala Gst Council Capital Expenditure Consumer Demand Festival Advance  scheme  employees  states  50year  expenditure  gst  festival  advance  interestfree  crore  loans  sitharaman  minister  meeting  capital  12000  demand  nirmala

History of this topic

Farmers seek cheaper credit, lower taxes, doubling PM-KISAN amount in pre-budget meet with FM
2 weeks, 3 days ago

Farmers seek cheaper credit, lower taxes, doubling PM-KISAN amount in pre-budget meet with FM

Live Mint  

New Delhi, Dec 7 Farmer representatives and agricultural stakeholders urged the government to provide cheaper long-term credit, implement lower taxes, and double the PM-KISAN income support during a comprehensive pre-budget consultation with Finance Minister Nirmala Sitharaman on Saturday. Primary demands included reducing interest rates on agricultural loans to as low as 1 per cent and increasing the annual PM-KISAN instalment …

Budget 2024 Proposes Increase in Standard Deduction for Salaried Employees To Rs 75,000 | ABP News
5 months ago

Budget 2024 Proposes Increase in Standard Deduction for Salaried Employees To Rs 75,000 | ABP News

ABP News  

Finance Minister Nirmala Sitharaman unveiled the seventh consecutive Union Budget today, marking the first budget of the newly formed Narendra Modi-led NDA government's third term. The budget proposes raising the standard deduction for salaried employees from ₹50,000 to ₹75,000 and increasing the family pension deduction for pensioners from ₹15,000 to ₹25,000. Additionally, the Basic Customs Duty on mobile phones, mobile …

Nirmala Sitharaman Announces Major Tax Reforms and Economic Measures in 7th Consecutive Union Budget
5 months ago

Nirmala Sitharaman Announces Major Tax Reforms and Economic Measures in 7th Consecutive Union Budget

ABP News  

Finance Minister Nirmala Sitharaman unveiled the seventh consecutive Union Budget today, marking the first budget of the newly formed Narendra Modi-led NDA government's third term. In her address, she introduced notable changes to the income tax system aimed at providing relief to salaried individuals and pensioners, as well as supporting the start-up ecosystem. Additionally, the Basic Customs Duty on mobile …

Budget 2024-25: Major Announcements For Students & Youths
5 months ago

Budget 2024-25: Major Announcements For Students & Youths

Live Law  

On July 23, the Union Budget for 2024-25 was presented in the Lok Sabha by Finance Minister Nirmala Sitharaman. Here are major announcements for the youths: EPFO registration The job situation in the nation will improve thanks to the three programs the administration has suggested for promoting employment for fresh applicants. Education Loans The proposed education loans would serve two …

Budget 2024: Nirmala Sitharaman announces financial aid for student loans up to ₹10 lakh
5 months ago

Budget 2024: Nirmala Sitharaman announces financial aid for student loans up to ₹10 lakh

Hindustan Times  

Union finance minister Nirmala Sitharaman announced that the Narendra Modi government will offer financial support for loans up to ₹10 lakh for higher education in domestic institutions. Union Budget 2024: People watch Union Budget being presented by finance minister Nirmala Sitharaman in the Parliament on television screen at TV showroom, at Dadar, in Mumbai. Follow- Budget 2024 Live Updates "For …

Telangana Government to credit ₹1 lakh into loan accounts of farmers under Crop Loan Waiver Scheme 2024
5 months ago

Telangana Government to credit ₹1 lakh into loan accounts of farmers under Crop Loan Waiver Scheme 2024

The Hindu  

As the stage is being set for the roll put of the crop loan waiver scheme, Telangana Government is making necessary arrangements to credit the amounts into loan accounts of farmers in different banks. ₹31,000 crore additional burden The total additional burden on the State exchequer on account of loan waiver up to ₹2 lakh, in Chief Minister A. Revanth …

States seek improvements in 50-year interest-free loan scheme
6 months ago

States seek improvements in 50-year interest-free loan scheme

The Hindu  

States have urged the Centre to make some improvements in the 50-year interest free loan scheme for pursuing capital investment projects, under which the Union government has proposed to give them ₹1.3 lakh crore this year, the same amount as 2023-24. Ministers from States made suggestions related to the ‘Scheme for Special Assistance to States for Capital Investment’, first launched …

Centre approves borrowing limit of ₹21,253 Crore for Kerala to tackle economic crisis
6 months, 4 weeks ago

Centre approves borrowing limit of ₹21,253 Crore for Kerala to tackle economic crisis

Op India  

Prime Minister Narendra Modi has come forward to assist Kerala in a bid to alleviate the state from the economic crisis as the Centre has sanctioned borrowings up to Rs 21,253 crores. In a post on X on Saturday, Chandrasekhar mentioned, “PM @narendramodiji’s govt steps up to assist Kerala’s economic crisis Government of India sanctions borrowings up to Rs 21,253 …

SGPC passes ₹1,260 cr budget, allocates ₹994 cr for gurdwaras
8 months, 3 weeks ago

SGPC passes ₹1,260 cr budget, allocates ₹994 cr for gurdwaras

Hindustan Times  

The general house of the Shiromani Gurdwara Parbandhak Committee on Friday passed a ₹1,260 crore budget for the financial year 2024-25 with special allocations being made for dharam parchar and education. SGPC president Harjinder Singh Dhami said that the outstanding salaries of staff of all educational institutions will be paid by March 31, 2024, for which ₹ 10 crore has …

2024 Interm Budget | Allocations for Social Justice and Tribal Affairs Ministries see a marginal increase
10 months, 3 weeks ago

2024 Interm Budget | Allocations for Social Justice and Tribal Affairs Ministries see a marginal increase

The Hindu  

The Estimates presented by Finance Minister Nirmala Sitharaman for financial year 2024-25 on February 1 left the budgets for Social Justice and Tribal Affairs Ministries largely unchanged with marginal increases seen in the estimated allocations for both ministries compared to the FY 2023-24 Budget Estimates. While ₹14,225 crore has been set aside for the Ministry of Social Justice and Empowerment, …

2024 Interim Budget | Net zero gain for job guarantee scheme
10 months, 3 weeks ago

2024 Interim Budget | Net zero gain for job guarantee scheme

The Hindu  

With allocation of ₹86,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme, the budget for the scheme for the financial year 2024-25 has been hiked by ₹26,000 crore in comparison to the 2023-24 Budget estimates, though it is the same as the revised estimates for the ongoing financial year. In the 2023 Budget, only ₹60,000 crore was allocated …

Budget 2024: Households to get up to 300 units of free electricity under rooftop solar scheme | 5 points
10 months, 3 weeks ago

Budget 2024: Households to get up to 300 units of free electricity under rooftop solar scheme | 5 points

Hindustan Times  

Every month, free electricity of up to 300 units will be provided under the Centre’s proposed rooftop solarisation scheme, which was announced by prime minister Narendra Modi last month, Union finance minister Nirmala Sitharaman declared in her budget speech on Thursday. The Rooftop Solarisation and Free Electricity scheme was PM Modi’s first decision after the Ram Temple ceremony. Here is …

Congress All Set To Rolls Out Fifth Guarantee in Karnataka
1 year ago

Congress All Set To Rolls Out Fifth Guarantee in Karnataka

Deccan Chronicle  

Bengaluru: The ruling Congress party which has rolled out four of its guarantees after coming to power in Karnataka reaching about 4.30 crore beneficiaries and now the stage is set for registration of its fifth guarantee “Yuva Nidhi” to provide monthly honorarium to graduates and diploma holders which will begin at the end of December, said Randeep Singh Surjewala, general …

MGNREGS runs out of funds; Rural Development Ministry seeks supplementary budget
1 year, 2 months ago

MGNREGS runs out of funds; Rural Development Ministry seeks supplementary budget

The Hindu  

Six months into the financial year, the flagship rural employment programme, the Mahatma Gandhi National Rural Employment Guarantee Scheme, has run out of funds and as per the statistics put out by the Ministry on its website is running a deficit of ₹6,146.93 crore. An amount of ₹60,000 crore was sanctioned for the scheme for 2023-24, which was 18% lower …

No clarity in Karnataka Budget on reimbursements to RTCs and Escoms for Shakti, Gruha Jyoti schemes
1 year, 5 months ago

No clarity in Karnataka Budget on reimbursements to RTCs and Escoms for Shakti, Gruha Jyoti schemes

The Hindu  

Bengaluru In a Budget that was eagerly awaited not just for being the first by a new State government, but also for curiosity about the implementation of the five guarantees by Congress, there appears to be no clarity on how the respective corporations and companies will be reimbursed for the welfare schemes. The State Budget that has allocated ₹2,800 crore …

Karnataka Siddaramaiah presents ‘guarantee Budget’ with promise of welfare for all
1 year, 5 months ago

Karnataka Siddaramaiah presents ‘guarantee Budget’ with promise of welfare for all

The Hindu  

July 07, 2023 10:11 pm | Updated 11:30 pm IST - Bengaluru For promoting inclusive development, Chief Minister Siddaramaiah on Friday presented a Budget with focus on welfare for the benefit of the common man by relaunching several discontinued schemes and offering interest-subsidy loans for people at the margins. Backed by 21% growth in GST, Mr. Siddaramaiah in his 14th …

MP govt’s ₹3.14 lakh crore budget focuses on women, tribals and religion
1 year, 9 months ago

MP govt’s ₹3.14 lakh crore budget focuses on women, tribals and religion

Hindustan Times  

Madhya Pradesh finance minister Jagdish Deoda presented a revenue surplus budget of over ₹3.14 lakh crore on Wednesday in the state assembly ahead of the December polls. Madhya Pradesh finance minister Jagdish Deoda presented the state budget today With a special focus on women, tribals and religion, Deoda announced schemes for giving scooty and skill upgradation stipends to girl students, …

Haryana CM presents ₹1,83,950 crore budget for 2023-24, up 11.6%; no new tax imposed
1 year, 10 months ago

Haryana CM presents ₹1,83,950 crore budget for 2023-24, up 11.6%; no new tax imposed

The Hindu  

Haryana government on Thursday presented a tax-free state budget for the 2023-24 financial year with an outlay of ₹1,83,950 crore, an increase of 11.6% in comparison to the previous year. The budget proposes an expenditure of ₹57,879 crore on capital asset creation representing 31.5% and ₹1,26,071 crore on revenue expenditure representing 68.5%. “In budget estimate 2023-24, I have projected revenue …

Budget 2023 | Senior citizen scheme limit doubled to ₹30 lakh
1 year, 10 months ago

Budget 2023 | Senior citizen scheme limit doubled to ₹30 lakh

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday proposed to double the deposit limit for Senior Citizen Savings Scheme to ₹30 lakh and Monthly Income Account Scheme to ₹9 lakh. "The maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from ₹15 lakh to ₹30 lakh," the minister said in her 87-minute long speech. She also proposed that the maximum …

Budget 2023 | Changes in allocation for key schemes including MGNREGS, PM-Kisan, Ayushman Bharat
1 year, 10 months ago

Budget 2023 | Changes in allocation for key schemes including MGNREGS, PM-Kisan, Ayushman Bharat

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday, February 1, presented the last full budget of the Narendra Modi government before the 2024 general elections. Here’s a roundup of how the budgetary allocations for some of the key schemes have changed- MGNREGS: The government slashed the budget for its flagship rural employment scheme, the Mahatma Gandhi National Rural Employment Guarantee Scheme by …

Deposit limit for Senior Citizen Savings Scheme increases to ₹30 lakh
1 year, 10 months ago

Deposit limit for Senior Citizen Savings Scheme increases to ₹30 lakh

Hindustan Times  

Finance Minister Nirmala Sitharaman on Wednesday proposed to double the deposit limit for Senior Citizen Savings Scheme to ₹30 lakh and Monthly Income Account Scheme to ₹9 lakh. Budget 2023: Govt doubles deposit limit for Senior Citizen Savings Scheme to ₹ 30 lakh. Read here: Budget 2023 brings special scheme for vulnerable tribal groups | Details "The maximum deposit limit …

Budget 2023 | MGNREGS fund cut by 33% to 60,000 crore
1 year, 10 months ago

Budget 2023 | MGNREGS fund cut by 33% to 60,000 crore

The Hindu  

In line with the recent trend of slashing the budget of its flagship rural jobs scheme, the Union Budget allocated only ₹60,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Act scheme for 2023-24. That is 18% lower than the ₹73,000 crore budget estimates for the current year, and 33% lower than the ₹89,000 crore revised estimates for the …

Budget 2023-2024: From revised tax slabs to savings scheme for women, Nirmala Sitharaman’s biggest announcements
1 year, 10 months ago

Budget 2023-2024: From revised tax slabs to savings scheme for women, Nirmala Sitharaman’s biggest announcements

Firstpost  

The last full Budget of the second term of the BJP-led NDA government saw the deposit limit for the Senior Citizens’ Savings Scheme raised from Rs 15 lakh to Rs 30 lakh, the highest-ever allocation for Indian Railways and the announcement of a next-generation common I-T form The 2023-2024 Budget has been announced – and with it some big announcements …

Budget 2023: ₹79,000 crore set aside for PMAY, 65% higher than last year
1 year, 10 months ago

Budget 2023: ₹79,000 crore set aside for PMAY, 65% higher than last year

Hindustan Times  

Presenting the final full budget of the Modi government ahead of next year's parliamentary elections, Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore towards the Pradhan Mantri Awas Yojana. New Delhi: Union Finance Minister Nirmala carrying a folder-case poses for photographs outside the Finance Ministry at North Block, in New Delhi, Wednesday, Feb. 1, 2023, …

Budget 2023 Key Highlights: Are You Under New Tax Regime? Nirmala Sitharaman Has Good News for You
1 year, 10 months ago

Budget 2023 Key Highlights: Are You Under New Tax Regime? Nirmala Sitharaman Has Good News for You

News 18  

Budget 2023 Highlights: Delivering on the expectations of the aam aadmi, Finance Minister Nirmala Sitharaman today announced Income Tax relief for the salaried class with an eye on the mega 2024 elections as well as several state battles as she delivered the Union Budget 2023 speech. She also announced changes in the tax slabs under the new tax regime, which …

Centre allocates ₹73,000 crore for MGNREGA for 2021-22 fiscal
3 years, 4 months ago

Centre allocates ₹73,000 crore for MGNREGA for 2021-22 fiscal

Hindustan Times  

The Centre has allocated ₹73,000 crore at the Budget Estimate stage for the Mahatma Gandhi National Rural Employment Guarantee Scheme for the 2021-22 fiscal year. The allocated budget is 34% less than the revised estimate of ₹1,11,500 crore 2020-21 financial year, a statement released by the ministry of rural development on Tuesday revealed. “During the previous financial year 2020-21, at …

Nirmala Sitharaman announces new COVID-19 stimulus measures: From Rs 23,220 cr for public health to free 5 lakh tourist visas, key highlights
3 years, 5 months ago

Nirmala Sitharaman announces new COVID-19 stimulus measures: From Rs 23,220 cr for public health to free 5 lakh tourist visas, key highlights

Firstpost  

Nirmala Sitharaman press latest news: conference Key highlights: Today finance minister has announced, From Rs 23,220 cr for public health to free 5 lakh tourist visas, FM announces 8 major relief measures to boost COVID-affected sectors Addressing a press conference on Monday, Union finance minister Nirmala Sitharaman announced a slew of relief measures including an Rs 1.1 lakh crore loan …

Amid COVID, Rs 50,000 Cr Relief for Health Sector: FM Sitharaman
3 years, 5 months ago

Amid COVID, Rs 50,000 Cr Relief for Health Sector: FM Sitharaman

The Quint  

The FM announced eight economic relief measures amounting to Rs 6,28,993 crore on Monday, out of which four are new and one is specific to health infrastructure. Schemes for scaling of existing relief measure such as the Emergency Credit Line Guarantee Scheme and support for state governments were also revealed, along with four new measures focused on providing loans to …

FM Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid-hit sectors
3 years, 5 months ago

FM Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid-hit sectors

India Today  

Finance Minister Nirmala Sitharaman on Monday announced a credit guarantee scheme worth Rs 1.1 lakh crore for Covid-affected sectors. READ: Finance Minister Sitharaman's Rs 6.28 lakh crore Covid stimulus package | 8 announcements She also said that the interest rate on the new credit guarantee scheme is two per cent below the RBI prescribed rate, with a loan duration of …

Top news of the day: Public sector banks to lend up to ₹5 lakh for COVID-19 treatment; Monsoon arrival in Kerala delayed to June 3, and more
3 years, 6 months ago

Top news of the day: Public sector banks to lend up to ₹5 lakh for COVID-19 treatment; Monsoon arrival in Kerala delayed to June 3, and more

The Hindu  

Individuals including salaried, non-salaried and pensioners can avail unsecured personal loans from ₹ 25,000 to ₹ 5 lakh to meet COVID-19 treatment. Addressing party workers virtually on the seventh anniversary of the Narendra Modi dispensation at the Centre, the BJP chief said all party MPs, ministers and MLAs will serve people in at least two villages following COVID-19 protocols and …

Group of Ministers to study GST relief for COVID essentials
3 years, 6 months ago

Group of Ministers to study GST relief for COVID essentials

The Hindu  

The Finance Ministry on Saturday constituted a Group of Ministers to examine possible waivers of GST levies on essential COVID-relief material, including vaccines, even as industry expressed concerns on the delay over such a critical decision amid the second wave of the pandemic. Uday Shankar, president, Federation of Indian Chambers of Commerce and Industry, said “a quick decision” on reductions …

Govt Raises Provident Fund Threshold Limit to Rs 5 Lakh for Earning Tax-free Interest
3 years, 9 months ago

Govt Raises Provident Fund Threshold Limit to Rs 5 Lakh for Earning Tax-free Interest

News 18  

The government on Tuesday raised the deposit threshold limit to Rs 5 lakh per annum in provident fund for which interest would continue to be tax exempt. In her Budget presented to Parliament on February 1, Finance Minister Nirmala Sitharaman had provided that interest on employee contributions to provident fund over Rs 2.5 lakh per annum would be taxed from …

A look at the winners and losers of Nirmala Sitharaman's Budget 2021
3 years, 10 months ago

A look at the winners and losers of Nirmala Sitharaman's Budget 2021

India Today  

Amid the sweeping economic distress triggered by the Covid-19 pandemic, Finance Minister Nirmala Sitharaman on Monday presented the Union Budget 2021, giving major emphasis to healthcare and infra sectors while leaving direct taxes unchanged. Here is a look at the gainers and losers from Budget 2021: WINNERS Healthcare Finance Minister Nirmala Sitharaman put health and well being as one of …

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy
4 years, 1 month ago

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy

The Hindu  

A day after announcing a scheme to boost manufacturing sector, Finance Minister Nirmala Sitharaman is meeting the press to announce more stimulus. The government on Wednesday approved a Production-Linked Incentive scheme for ten key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 lakh crore over a five-year period. 3000 crore for …

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme
4 years, 1 month ago

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme

India TV News  

Union Finance Minister Nirmala Sitharaman on Thursday rolled out Atmanirbhar Bharat 3.0 stimulus package to boost economy. will make ₹ 6,000 crore equity investment in debt platform of National Investment and Infrastructure Fund, which will help NIIF raise ₹ 1.1 lakh crore by 2025 for financing infrastructure projects 2:08 pm: Differential between circle rate and agreement value in real estate …

Rajasthan Becomes First Cong-ruled State to Accept Centre's Borrowing Option to Meet GST Shortfall
4 years, 1 month ago

Rajasthan Becomes First Cong-ruled State to Accept Centre's Borrowing Option to Meet GST Shortfall

News 18  

Congress-ruled Rajasthan has accepted the Centre's borrowing proposal to meet GST revenue shortfall and will get over Rs 4,600 crore through the special window. Under the borrowing plan, the Centre would borrow from market Rs 1.10 lakh crore to meet revenue shortfall on account of GST implementation. However, states like Kerala, Punjab, West Bengal, Chattisgarh, Jharkhand are yet to opt …

RBI Asks Lenders to Implement Waiver of Interest on Interest for Loans upto Rs 2cr by Nov 5
4 years, 1 month ago

RBI Asks Lenders to Implement Waiver of Interest on Interest for Loans upto Rs 2cr by Nov 5

News 18  

The Reserve Bank on Tuesday asked all lending institutions, including non-banking financial companies, to ensure that the scheme of waiver of interest on interest for loans up to Rs 2 crore for the six-month moratorium period is implemented by November 5, as decided by the government. Last Friday, the government had announced the scheme for grant of ex-gratia payment of …

Govt waives interest on interest for loans up to ₹2 crore
4 years, 2 months ago

Govt waives interest on interest for loans up to ₹2 crore

The Hindu  

In a relief to borrowers at the onset of the festive season, the government on late Friday night announced waiver of interest on interest for loans up to ₹2 crore irrespective of whether moratorium was availed or not. The Department of Financial Services came out with operational guidelines in the backdrop of Supreme Court’s direction to implement the interest waiver …

Delhi govt’s festive bonus: Employees can opt for cash equivalent of LTC, ₹10,000 advance
4 years, 2 months ago

Delhi govt’s festive bonus: Employees can opt for cash equivalent of LTC, ₹10,000 advance

Live Mint  

To boost consumer spending during the festive season, the Delhi government on Thursday announced that its employees can take cash equivalent of leave travel concession if they opt for it. "Firstly, in a bid to boost the consumption expenditure and incentivise its employees, Delhi government has announced a special cash package in lieu of LTC for the Delhi government employees …

GST: State welcomes offer, but wants to raise borrowing
4 years, 2 months ago

GST: State welcomes offer, but wants to raise borrowing

The Hindu  

Even while welcoming the Centre’s decision to borrow through a special window and provide back-to-back loans to the States in lieu of the Goods and Services Tax compensation, Kerala is putting pressure to borrow ₹1.70 lakh crore instead of the present offer of ₹1.1 lakh crore. Deferred payment “We have welcomed the Centre’s offer to borrow ₹1.1 lakh crore. Union …

Nirmala Sitharaman's LTC, festival schemes for Central employees cue for states to fix their finances
4 years, 2 months ago

Nirmala Sitharaman's LTC, festival schemes for Central employees cue for states to fix their finances

Firstpost  

With many of the states already facing a fund crunch, they are going to be in more difficulty to match the Centre’s largesse. On Monday as Finance Minister Nirmala Sitharaman began speaking, the expectations of a cut in long term capital gains tax by the markets got mixed up in an alphabetic mix up with the announcement of a change …

Retail to get a fillip from govt schemes
4 years, 2 months ago

Retail to get a fillip from govt schemes

Live Mint  

Finance minister Nirmala Sitharaman on Monday announced measures that could generate an additional ₹36,000 crore in consumer demand and drive sales of products such as mobile phones, household appliances, furniture and apparel. The LTC cash voucher scheme and the special festival advance scheme for all central government employees, will encourage them to spend on high-value items, stoking demand for such …

India Inc welcomes Nirmala Sitharaman’s announcement to boost demand
4 years, 2 months ago

India Inc welcomes Nirmala Sitharaman’s announcement to boost demand

Live Mint  

India Inc on Monday cheered Finance Minister Nirmala Sitharaman's announcement of payment of cash in lieu of LTC and ₹10,000 festival advance to government employees, saying these measures will boost demand while instilling a "feel good" factor in the people and energize growth. Gaurav Taneja, Partner and Leader, Government and Public Sector, EY India, said, "The finance minister's announcement today …

New LTC cash voucher scheme: What private sector employees should know
4 years, 2 months ago

New LTC cash voucher scheme: What private sector employees should know

Live Mint  

To boost consumer demand in the coronavirus-hit economy, Finance Minister Nirmala Sitharaman on Monday announced two proposals -- Leave Travel Concession Cash Voucher Scheme and Special Festival Advance Scheme. We are presenting two proposals -- the Leave Travel Concession Cash Voucher Scheme and Special Festival Advance Scheme -- to stimulate consumer spending." "We expect that private sector would be happy …

Centre to give Rs 10,000 special festival advance to all govt employees; LTC cash voucher scheme announced
4 years, 2 months ago

Centre to give Rs 10,000 special festival advance to all govt employees; LTC cash voucher scheme announced

India TV News  

In a bid to stimulate demand in the economy, the government on Monday announced giving out cash vouchers to central government employees this year in lieu of leave travel concession fare which could be spent only on buying non-food GST-rated items. Finance minister said that the government will give Rs 10,000 special festival advance all its employees as one-time measure …

Special festival advance scheme announced for government employees: 5 points
4 years, 2 months ago

Special festival advance scheme announced for government employees: 5 points

Live Mint  

Finance Minister Nirmala Sitharaman today announced a special Festival Advance Scheme for central government employees revived as a one-time measure. 3) The government expects to disburse ₹4000 crore under this advance scheme 4) If given by state governments, another ₹8000 crore is likely to be disbursed. To stimulate demand in the economy, the government also announced giving out cash vouchers …

Govt to give cash vouchers to staff in lieu of LTC this year, says Finance Minister Nirmala Sitharaman
4 years, 2 months ago

Govt to give cash vouchers to staff in lieu of LTC this year, says Finance Minister Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman unveiled new proposals to stimulate demand in the economy in the wake of the coronavirus pandemic. Addressing a press conference, Ms. Sitharaman said that she has broadly classified the proposals into two different compartments — consumer spending and capital expenditure. Consumer spending proposals The Finance Minister said that the consumer spending proposals include a LTC cash …

Festival bonanza for central govt employees: Rs 10,000 advance to all, LTC cash voucher
4 years, 2 months ago

Festival bonanza for central govt employees: Rs 10,000 advance to all, LTC cash voucher

India Today  

Finance Minister Nirmala Sitharaman on Monday announced two schemes to incentivise consumer spending and boost the country’s GDP as part of the Centre’s fresh economic revival push. As part of increasing consumer spending, Sitharaman announced two schemes -- LTC Cash Voucher Scheme and Special Festival Advance Scheme -- to primarily benefit central government employees. Special Festival Advance scheme Sitharaman also …

Finance Minister announces govt schemes to boost consumer demand
4 years, 2 months ago

Finance Minister announces govt schemes to boost consumer demand

Op India  

Finance Minister Nirmala Sitharaman has announced a slew of measures to stimulate the slowing economy in the wake of coronavirus-induced lockdown. 2nd part of the Modi Govt's plan to boost consumer demand is a one-time restoration of the festival advance for central govt employees through the Special Festival Advance Scheme. LTC cash voucher scheme announced for government employees To spur …

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