Cabinet announces bonus for central govt employees: All you need to know

The Union Cabinet on Wednesday authorised bonus for central authorities workers, simply forward of Dussehra. This was introduced by Union minister Prakash Javadekar, who held a press convention to offer particulars concerning the selections taken within the Cabinet assembly.

Here is all the things you have to know concerning the Cabinet’s newest choice:

The bonus

The Union Cabinet has determined to offer productiveness linked and non-productivity linked bonus for the 12 months 2019-2020, Javadekar stated. The transfer will profit 30 lakh non-gazetted workers.

The minister additionally introduced that whole monetary implication will likely be Rs 3,737 crore.

The monetary implication

Javadekar introduced that productivity-linked bonus will likely be given to workers working at industrial institutions, like railways, submit workplace and defence manufacturing. There are 17 lakh non-gazetted working in these institutions. The price of giving bonus to those workers will likely be round Rs 2,791 crore, stated Javadekar.

The different 13 lakh non-gazetted authorities workers will likely be given non-productivity linked bonus. This will value Rs 946 crore, stated the Union minister.

How will the bonus quantity be disbursed?

Javadekar introduced that the bonus will likely be disbursed instantly, in a single installment, earlier than Vijaya Dashami. The disbursal will likely be carried out by direct profit switch (DBT), he additional stated.

This comes days after finance minister Nirmala Sitharaman had introduced a Leave Treavel Concession (LTC) money voucher scheme. The authorities introduced the scheme, and the bonus as we speak, to extend demand which can result in spending thereby benefitting the financial system.

Strike name

The All India Railways Federation had given a name for a two-hour strike on October 22 if bonus isn’t declared by Wednesday.

Every 12 months, this bonus is given earlier than Dussehra. But this 12 months, the federal government has not but introduced bonus owing to the pandemic situation.