Kolkata, Oct 13 (UNI) After a long clamour for fiscal stimulus the Government has come up with measures with direct fiscal support to people and states and to generate demand.
"However, the announcements have come with a "conditions apply" tag. These measures include: (i) LTC Cash Voucher Scheme for Government employees if they can’t travel due to pandemic," said Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India.
" Employees can use the money to buy items attracting 12% or more GST, increasing consumer demand. However, employees can spend an LTC cash voucher only through digital mode and at places registered under GST before 31 March 2021. (ii) Special Festival Advance Scheme of Rs 10,000 to Government employees for festivals upto 31.3.2021, which would be returned on maximum of 10-installments, (iii) Thrust to Capital expenditure of states and centre, including Special interest free 50-year loans to States for capital expenditure for Rs 12,000 crores & Rs 25,000 crores additional capex from Rs 4.13 lakh crore for expenditure. "