Central Employees: The Modi government has given a big relief to the central employees after the economic losses during the Koro period. The government has notified the LTC Cash Voucher Scheme in the budget in the ‘Travel Allowance Space Scheme’ for government employees. This means that central employees will no longer have to pay TAX on this amount.
What is Cash Voucher Scheme?
The scheme was announced on 12 October 2020. Earlier this scheme was for central employees only but now private and other employees have also been included in the scheme. In her budget speech, Finance Minister Nirmala Sitharaman said, The government hopes that the scheme will also put money in the pockets of government employees and when they have money in their pockets, they will also spend it. This whole system will benefit the economy. Employees who could not avail the benefit of LTC due to Corona will be given the benefit of Cash Voucher Scheme in ‘Travel Allowance Space Scheme’
get LTC in 4 years. With this allowance they can travel anywhere in the country once in the meantime. During this time the employee gets a chance to go to his hometown twice. The travel allowance also covers the cost of air travel and rail travel. Employees also get 10 days PL (Privileged Leave).
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