Govt announces Rs 73,000 Cr package to stimulate the economy
Includes advance payment of a part of wages to central govt employees and cash in lieu of LTC
In a bid to stimulate consumer demand and investment in the economy damaged by COVID-19
As much as Rs 11,575 crore would be paid as LTC allowance, and advance to central govt and PSU employees
It should be spent on non-essential goods before March 31
States would separately be eligible to get Rs 12,000 crore in 50-year interest-free loans
Govt will give its employees income tax-exempt cash vouchers instead of TA & DA
Also, Rs 10,000 salary loan to all its officers and employees as festival advance
Demand infusion in the economy by central govt is estimated to be Rs 19,000 crore
