Central public sector enterprises and banks will also follow the cue and give cash in place of leave travel concession (LTC) as travelling during the pandemic is near to impossible.
The loan will have to be spent entirely on new or ongoing capital projects, states can settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021.
Finance Minister Nirmala Sitharaman said the states which received less apportionment of IGST for 2017-18, the Centre will next week transfer a cumulative Rs 24,000 crore to them
