More than 3 million unpublished union government employees will receive a bonus worth Rs 3,737 crore as a step to revive demand in the economy, the cabinet decided on Wednesday.
“The cabinet of the Union has approved a bonus linked to productivity and not linked to productivity for 2019-2020. The bonus will be delivered in a single installment, through the direct transfer of benefits, before Vijayadashami,” said the Union Minister Prakash Javadekar at a press conference, referring to the holiday on October 25.
“More than 3 million unpublished employees will benefit from the bonus announcement and the total financial implication will be 3,737 crore,” he said after a cabinet meeting in Delhi. “This will drive demand in the market.”
“The bonus payment to unpublished employees for their performance in the previous year is generally made before the Durga Puja / Dussehra season. The Government announces the Productivity Linked Bonus (PLB) and the ad hoc bonus for their unregistered employees to be disbursed immediately, “the government said in a press release.
The Productivity Linked Bonus (PLB) for the year 2019-2020, which has financial implications of Rs 2,791 crore, will benefit 16.97 lakh of unpublished employees in commercial establishments such as Railways, Post Office, Defense, EPFO, ESIC, among others, according to news. PTI agency.
The non-PLB or ad-hoc bonus, which is awarded to central government employees not listed in the official gazette, will benefit 13.70 lakh staff. It will cost the treasury 946 million rupees.
A total of 30.67 lakh employees would benefit from the bonus announcement and the total financial implication will be Rs 3,737 crore, according to the statement.
Finance Minister Nirmala Sitharaman announced measures on October 12 to stimulate consumer demand, including prepaying a portion of her employees’ salaries during the festival season and more capital spending as she tries to boost the economy hit by the pandemic.
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