New Delhi3 minutes ago
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The festival of Diwali is near and in the meantime the central government is preparing to give a big gift to the railway employees. According to Business Today sources, the Union Cabinet may approve the productivity-linked bonus (PLB) for railway employees in its next cabinet meeting.
According to sources, this bonus will be given to non -gazetted railway employees, so that the Indian Railways will be respected for their efficiency and performance. Last year, about 11 lakh railway employees got this bonus, which not only encouraged them, but also encouraged purchases in the festive season.
Good news for bonus market
This year, a similar effect can be seen. This bonus is not only a matter of relief for the employees, but also good news for the market. Shopkeepers and businessmen are expecting more demand during Diwali this time, especially after the recent reduction in GST, their expectation has increased.
Railway employees, who are a large consumer class in urban and semi-urban areas, can increase the purchase of electronics, clothes and other items with this bonus.
What will be the effect on the economy?
Economic experts say that the effect of such festive bonuses is not limited to employees’ pockets, but it produces multipleire effects in the economy. That is, this money goes to the market, which increases demand and increases economic activities.
Especially when inflation is under control and the government is trying to promote consumer expenses. This bonus can then help maintain demand in the last three months of the year. However, the government is also keeping in mind the expenses and economic balance in the meantime.
Demand for railway union
Meanwhile, railway staff unions have demanded to increase the amount of bonus. He says that the calculation of bonus is currently being done on the basis of the minimum salary of the sixth pay commission, which is unfair. Sarvajit Singh, National General Secretary of the Indian Railway Employees Federation (IREF), said, “The minimum salary under the Seventh Pay Commission is Rs 18,000, which is applicable from 1 January 2016. Nevertheless, it is wrong to give bonuses on the basis of old salary.
The All India RailwayMains Federation (Airf) has also demanded to increase the amount of bonus. He says that the monthly limit of Rs 7,000 is now outdated and it is necessary to update it according to the current salary structure. Apart from this, unions have also demanded a bonus before Dussehra and issuing government notifications for the formation of 8th Pay Commission.
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