30 Lakh Govt Employees Will Get Bonus Of Rs 3737 Crore Directly In Their Bank A/c!

On the occasion of Vijayadashami, the Centre on Wednesday declared a gift Rs of 3,737 crore bonus for over 30 lakh central non-gazetted employees.

Read on to know more…

Key Features of the Festive Bonus!

Rs 2,791 crore has been allocated to around 17 lakh non-gazetted employees from state-owned organizations such as railways, postal department, Employees’ Provident Fund Organization (EPFO), and Employees’ State Insurance (ESIC).

This bonus will be a productivity-linked bonus with the aim of boosting festive demand.

A non-productivity-linked bonus, for which the government has allocated Rs 946 crore has been assigned to another 13 lakh employees.

The bonus will be offered in a single installment via a direct benefit transfer (DBT).

The Union Minister Prakash Javadekar, announced the bonus after the Cabinet meeting and said, “Money in the hands of the middle class will push demand in the market.”

Govt Announcing Benefits Due To Depressed Demand Conditions!

Usually, a payment bonus is offered to the non-gazetted employees for their performance right before Vijayadashami.

However, this year, with the onset of pandemic and suspension of dearness allowance, the employees were concerned whether the government will offer bonuses.

A few days prior, the railway workers association had cautioned the Govt on barring the rail movement if the productivity-linked bonus was not released before Vijayadashami (i.e. before October 25).

In the past 10 days, these demands have forced the government to announce many benefits to its employees.

For Central and public sector employees, the Finance Minister Nirmala Sitharaman had last week announced 2 schemes —
Leave Travel Concession (LTC) cash voucher scheme and special festival advance scheme.