LTC Cash Voucher Scheme: Finance minister Srimati Nirmala Sitharaman Ji launched a new scheme for the central government employees for their financial help and it will also help to boost up the economy of the country that’s why the government launch the LTC Cash Voucher Scheme on 12th October 2020.
Today we will share all the scheme-related information with you. We will also share with you all the step-by-step procedure which we need to follow to apply for the new opportunity launched by the finance minister of the country.
Table of Contents
LTC(Leave Travel Concessions ) Cash Voucher Scheme
LTC Cash Voucher Scheme is regulated by both state & central government. The main reason behind launching the scheme is to boost up the economy of the country because of the worldwide pandemic covid-19, Pandemic really gives a bad impact on the world economy and it also gives a bad impact on India’s economy. Finance Minister also said that the consumer Demand is affected in the country; The LTC Scheme expects Demand creation of 19000 crore Rs On account of demand from the central government employee. It also expects an additional demand generation of 90000 crore rs from the state government employee. Readers are advised to be with us for the complete information about this scheme.
Objective of LTC Cash Voucher scheme
The finance minister launches the scheme for the boost of the economy and it also creates a demand in the market which gives a positive impact on the economy. Under this scheme the finance minister gives a cash voucher to the employee for travel, Employee will also get this scheme benefit without taking travel, the employee will also get the cash scheme voucher. The employee can travel to any of their destinations by using a cash voucher and the cash voucher is to be redeemed before 31st March 2021.
Detail of LTC Scheme 2023
|Name of Scheme||Leave Travel Concessions scheme|
|Concerned Authority||Central Government oh India Ministry of Finance|
|Launch date||12th October 2020|
|Objective||To help and support to the Government Employee|
|Beneficiary||Central Government Employee|
|Special Cash Package-LTC.pdf|
Benefits of the Scheme
- A large number of central government employees will take benefit from this scheme.
- The government planned to create a demand for 19000 crores in the market in the last 3 months of the festive season.
- It’s also benefited for tax concession for the employee.
- The scheme is also provided by the central government for the private sector if their employees will demand the same.
- The main benefit of the scheme is to boost the economy of the country.
- The employee will take this scheme benefits by 3 times.
There are no eligibility criteria for this scheme, the entire central government employee can take the benefit of the scheme. If there is any registration process or any other scheme-related update we will share the update through this article, stay with us for more information.
Deemed LTC Fare
The number of LTC vouchers that the employees will get plus the value of these vouchers are as follow:-
|Employees who are entitled to business class of airfare||Rupees 36000|
|Employees who are entitled to an economy class of airfare||Rupees 20000|
|Employees who are entitled to Rail fare of any class||Rupees 6000|
LTC Cash Voucher Scheme Application Process
There is no application procedure yet announced by the government to apply for this scheme. No official website has been declared till late by the government.
As soon as there is any information related to the LTC cash voucher scheme, we will update you here. Kindly stay connected with us to get the latest information related to the scheme