Tag Archives: LTC

LTC funds can now be used to spend on items in 12% GST category

FM Nirmala Sitharaman made a slew of announcements to stimulate consumer spending and capital expenditure, including a special LTC (Leave Travel Concession) cash voucher. She said LTC funds could be used to spend on goods and items in the 12% GST category. However, FAITH and TAAI expressed disappointment stating that LTC funds of government employees will now be redirected to buy consumer goods.

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Instead of being bailed out, we are now deprived of LTC fund: TAAI

Sharing her thoughts on the changes made by the FM on LTC, Jyoti Mayal, President of TAAI, said, “The Finance Minister in her stimulus speech has announced that government officials can use their LTC funds to buy consumer goods for the festive season. The tourism industry instead of being bailed out is now deprived of the LTC fund. Our industry is dying and our employees are losing jobs in every avenue but the Prime Minister has forgotten of our existence – the backbone of India.”

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