Modi govt’s big Dussehra gift, to release Rs 3,737 crore bonus for 30.67 lakh central employees
New Delhi: The Modi authorities has introduced large bonuses for over 30 lakh workers through the dusshera season for which it’s going to spend Rs 3,737 crore.
The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday gave its approval to pay Productivity Linked Bonus (PLB)for the 12 months 2019-2020 to 16.97 lakh non-gazetted workers of business institutions like Railways, Posts, Defence, EPFO,ESIC,and so on. The monetary implication of this may be Rs 2,791 crore.
On the opposite hand, a Non-PLB or ad-hoc Bonus is given to Non-Gazetted Central Government workers. 13.70 lakh workers can be benefited and Rs 946 crore would be the monetary implication for a similar.
Payment of Bonus to non-gazetted workers for his or her efficiency within the previous 12 months is normally made earlier than Durga Puja/Dussehra season. The Government is asserting the Productivity Linked Bonus (PLB) and advert hoc bonus for its non-gazetted workers to be disbursed instantly.
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A complete of 30.67 lakh workers can be benefited by the Bonus announcement and whole monetary implication shall be Rs 3,737 crore.
Earlier this month, Finance Minister Nirmala Sitharman just lately introduced a bunch of schemes.
The Finance Minister mentioned that the Centre will launch `LTC Cash Voucher Scheme` and `Special Festival Advance Scheme`. The Finance Minister additionally introduced a particular competition advance of Rs 10,000 for all gazetted and non gazetted officers. This scheme, she defined is being revived and shall be one time solely.
Under LTC Cash Voucher Scheme, the Government has determined to provide money fee to workers in lieu of 1 LTC throughout 2018-21, through which full fee on Leave encashment and tax-free fee of LTC fare in Three flat-rate slabs relying on class of entitlement shall be given.
The estimated price of LTC Cash Voucher Scheme for central authorities workers is Rs 5,675 crore, for PSBs and PSUs will probably be Rs 1,900 crore. Tax concessions for LTC tickets accessible for state govt. & non-public sector too, in the event that they select to provide such facility, these workers can also profit.
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