 "Consumer spending, cash, money")
Finance Minister Nirmala Sitharaman on Monday announced two special schemes for government staff in a bid to boost consumer demand: a leave travel concession (LTC)-related cash voucher and a festival advance. Economists and India Inc say the tax-exempt travel payout and festival advance will spur consumer spending, albeit marginally.
The travel and tourism sector, though, is upset that LTC is being redirected to buy consumer goods.
“The festive season is one of the few demand drivers that the travel and tourism industry was looking forward to. The sector was hoping for more tax-based stimulus in the hands of citizens, so
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