India’s Finance Minister Nirmala Sitharaman has once again announced an economic package to bring the Indian economy back on track. This time the size of the economic package has been kept at one lakh crore rupees. Government employees will be the biggest beneficiaries of this relief package.
Finance Minister Nirmala Sitharaman said that this relief package will increase the demand in the Indian economy. And the poor will also directly benefit from it.
Minister of State for Finance Anurag Thakur said that this relief package will help in bringing the Indian economy back on track. However, it will be interesting to see now how beneficial this economic relief package proves to be. At the same time, some announcements have also been made for the state governments. So that money can be given to spend them directly.
Travel Allowance Scheme for Government Employees in Economic Relief Package
In the economic package released today, Finance Minister Nirmala Sitharaman announced the Travel Allowance Scheme for government employees. Under this scheme, if you travel anywhere in India, the central government will pay your travel expenses.
Finance Minister Nirmala Sitharaman said that under this scheme we have made a provision of Rs 4000 crore. Along with this, Finance Minister Nirmala Sitharaman has said that if the scheme is implemented by the state government also, you will incur an additional cost of about 4000 crores. In this way the scheme is worth 8000 crores.
If you want to take advantage of this scheme then you have to complete the journey before 31 March 2021. Apart from this, some provisions have also been added to this scheme. You will have to spend twice the amount of money you get back at the shops. You can spend your money at such shops which are GST registered. And you have an invoice. Only then you can claim your allowance.
Finance Minister Nirmala Sitharaman said that if you want to take advantage of travel allowance then you can buy the same product. On which GST is charged more than 12%. In such a situation, it becomes clear that the government wants to increase spending to raise the economy of India with this relief package.
It has just been seen that people in India are saving money. And are avoiding spending, the government wants to spend more and more money from people. So that Indian economy can get help.
Prepaid RuPay Card for Government Employees in Economic Package
Another scheme for government employees has been announced in the economic package. Finance Minister Nirmala Sitharaman said that there was a provision for advance festival payment in the 6 Pay Commission. Under this, ₹ 4500 was given to non-gazetted government employees. And it was closed by the Seventh Pay Commission. But now we have reduced it to ₹ 10000 per employee for one time. This means that every employee will be given ₹ 10,000 in advance. All employees, whether gazetted employees or non-gazetted employees, will be able to take advantage of this scheme.
Under this, you will be given a prepaid RuPay card. However, you can make payment online only. With this RuPay card you cannot withdraw money by going to the ATM. After that you can repay this ₹ 10000 in 10 installments to the government. No interest will be charged on these money.
Finance Minister Nirmala Sitharaman has said that under this also we are estimating the expenditure of about 4000 crores. We are expecting that if 50% of the states also implement this scheme on their own, then ₹ 4000 will be incurred.
Private companies can also take advantage of the rule of travel allowance
Announcing the economic package, Finance Minister Nirmala Sitharaman has said that the benefit of the economic allowance scheme can be extended to the employees of private companies as well. And if the private companies take advantage of this scheme, then the Indian economy may get an additional benefit of Rs 28000 crores.
This means that any employee who is registered in private companies. They can all take advantage of the travel allowance scheme.
Rs 12000 crore interest free for 50 years to state governments
Today, in the economic package released by Nirmala Finance Minister Nirmala Sitharaman, 12000 crore rupees have also been given to the state governments. Finance Minister Nirmala Sitharaman has said that a provision of Rs.1600 crores has been made in it for the states of North-East. Apart from this, 450 crores for Uttarakhand and Himachal Pradesh 450 crores have been given for each state. Apart from this, 7500 crore rupees will be given to the remaining states.
Finance Minister Nirmala Sitharaman has said that this money will be given to the state governments in two installments. However, the state government can only spend this money on the infrastructure project. Can pay the old bill. But this money cannot be spent on paying salaries to employees. State governments will have to spend this money first before March 21. If the state government is able to spend their money then they will be given the second installment. The state governments have been given 50 years in the form of loans. No interest will be charged on this.
Central government will spend additional Rs 25000 crores under economic relief package
Apart from this, the central government has announced an additional economic package of Rs 25000 crore. Road infrastructure construction of this package will be able to complete the old infrastructure projects. Apart from this, this money will also be spent on military and defense related projects.
Finance Minister Nirmala Sitharaman has said that there was a continuous demand from us to increase government spending. According to this demand, we have decided to spend additional 25 thousand crores.
Finance Minister, will boost India’s economy with this relief package
Finance Minister Nirmala Sitharaman announced the package, saying that this relief package will give a boost to India’s economy once again. The Finance Minister said that before 21 March 2021, the first investment of 100000 crores will be in the Indian economy.
Nirmala Sitharaman said that this relief package will also help Indian businessmen and poor people. Traders will have additional opportunities to trade. The same poor will also get money from this relief package. In such a situation, this relief package will benefit all Indians. At the same time, it will also help to lift the Indian economy once again.
Let us tell you for information that in the past, the Central Government has announced two relief packages to promote the Indian economy. But it does not seem to have any effect on the land yet. In such a situation, it will be interesting to see how much the relief package announced by the government can raise the Indian economy.