+
Govt announces Rs 20 Bn bonus for railway employees
RAILWAYS & METRO RAIL

Govt announces Rs 20 Bn bonus for railway employees

Union Minister Ashwini Vaishnaw announced on Thursday the Cabinet has approved a Productivity Linked Bonus of Rs 20.29 billion for Railway employees, benefiting 11,72,240 workers in recognition of their good performance. He also addressed concerns about recruitment, stating that the process for filling 58,642 vacancies is underway, countering opposition claims that present misleadingly small figures regarding employment in the Railways.

Union Minister Ashwini Vaishnaw said, Productivity Linked Bonus for Railway employees of Rs 20.29 billion has been approved by the cabinet for the good performance of railways which will benefit 11,72,240 employees.

Cabinet also approved the modification of the existing Productivity Linked Reward (PLR) Scheme for employees and workers of Major Ports and Dock Labour Boards for the period from 2020-21 to 2025-26. This decision will benefit around 20,704 employees and comes with a total financial outlay of Rs 2 billion. Under the revised PLR scheme, the calculation of rewards will now focus more on port-specific performance rather than an all-India performance, encouraging healthy competition among ports. The weightage for individual port performance will be gradually increased from 50% to 60% by 2025-26, while the all-India performance weightage will be reduced to 40%. The wage ceiling for calculating the bonus has been set at Rs 7,000 per month.

This modification aims to boost productivity, foster competition, and promote better industrial relations in the port sector. The PLR scheme has traditionally been a reward system based on agreements between management and labour unions of Major Port Authorities, offering financial incentives for workers based on annual performance.

Union Minister Ashwini Vaishnaw announced on Thursday the Cabinet has approved a Productivity Linked Bonus of Rs 20.29 billion for Railway employees, benefiting 11,72,240 workers in recognition of their good performance. He also addressed concerns about recruitment, stating that the process for filling 58,642 vacancies is underway, countering opposition claims that present misleadingly small figures regarding employment in the Railways. Union Minister Ashwini Vaishnaw said, Productivity Linked Bonus for Railway employees of Rs 20.29 billion has been approved by the cabinet for the good performance of railways which will benefit 11,72,240 employees. Cabinet also approved the modification of the existing Productivity Linked Reward (PLR) Scheme for employees and workers of Major Ports and Dock Labour Boards for the period from 2020-21 to 2025-26. This decision will benefit around 20,704 employees and comes with a total financial outlay of Rs 2 billion. Under the revised PLR scheme, the calculation of rewards will now focus more on port-specific performance rather than an all-India performance, encouraging healthy competition among ports. The weightage for individual port performance will be gradually increased from 50% to 60% by 2025-26, while the all-India performance weightage will be reduced to 40%. The wage ceiling for calculating the bonus has been set at Rs 7,000 per month. This modification aims to boost productivity, foster competition, and promote better industrial relations in the port sector. The PLR scheme has traditionally been a reward system based on agreements between management and labour unions of Major Port Authorities, offering financial incentives for workers based on annual performance.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code