30 lakh Central government employees to get ₹3,737 crore bonus by next week

WION Web Team NEW DELHI Oct 21, 2020, 05.06 PM(IST) Oct 21, 2020, 05.09 PM(IST)

File photo of Prakash Javadekar. Photograph:( Zee News Network )

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Over 30 lakh non-gazetted employees will benefit from the announcement. Total financial implication the decision will be ₹3,737 crore, Union Minister Prakash Javadekar said on Wednesday.

The Government of India on Wednesday approved productivity linked and non-productivity linked bonus for the year 2019-20. 

As per the government, the money will directly be credited in their bank accounts.

Over 30 lakh non-gazetted employees will benefit from the announcement. Total financial implication the decision will be ₹3,737 crore, Union Minister Prakash Javadekar said on Wednesday.

"Union cabinet has given its approval to pay Productivity Linked Bonus (PLB) for the year 2019-2020 to 16.97 lakh non-gazetted employees of commercial establishments like Railways, Posts, Defence, EPFO, ESIC will be benefitted and the financial implication would be ₹2,791 crore," the official statement mentioned. 

The Union Cabinet's decision on the festival bonuses comes a few days after Finance Minister Nirmala Sitharaman announced two schemes -- LTC Cash Voucher Scheme and Special Festival Advance Scheme -- to incentivise consumer spending and boost the country’s GDP as part of the Centre’s fresh economic revival push. 

The bonus, to be given in a week's time, will encourage the middle-class to spend and thus add to the demand in the economy, the minister said.

(With inputs from agencies)

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