Diwali Bonus Approved by Union cabinet  | Fusion - WeRIndia

Diwali Bonus Approved by Union cabinet 

Diwali Bonus Approved by Union cabinet 

Good news for central government employees. The union cabinet approved a huge bonus for government workers for the festival season. On Wednesday, a disbursal of ₹3737 crores has been approved by the government as a bonus and non-productivity linked bonus.

The central government aims to boost some demand in the festive season. This surprising decision was announced by Union Minister Prakash Javadekar. This move aims to benefit at least 30 lakh non-gazetted employees.

The government is planning to give this bonus in a single instalment before Vijaya Dashami.

Out of the 30 lakh employees, 17 lakh non-gazetted employees are from commercial establishments such as railways, post office, EPFO, ESIC, and production. They get a share of ₹2791 crore out of the 3737 crores. The remaining 13 lakh employees will get the non-productivity link bonus of 946 crores.

Due to the COVID-19 pandemic, the purchasing power of many families has drastically gone down. As a result, demand in many sectors went down and the overall economy was affected.

Minister Jayadekar said that this money can help many middle-class families get more purchasing power. As such, the overall demand in the market will increase.

However, not all is roses and sunshine. Two railway workers’ associations have warned about blocking railway movement if their demands about productivity linked bonuses were not met before the Durga Puja.

The government is making a lot of moves to improve middle-class economic status. Last week, the government announced the Leave Travel Concession (LTC) cash voucher scheme.

Furthermore, to give more money to the employees, Finance Minister Nirmala Sitharaman allocated ₹37000 crores for capital expenditure. She aims to create a demand for ₹ 1 Lakh Crore.

Photo by ninocare (pixabay.com) on Needpix (Free for commercial use / CC0 Public Domain)

Image Reference: https://www.needpix.com/photo/download/1081361/ferragosto-fireworks-night-pyrotechnics-fires-explosion-fire-dark-event

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