New Delhi:
The central government on Wednesday decided to give Rs 3,737 crore as bonus to 30.67 lakh non-gazetted employees with a view to encourage spending during the festival season.
The decision to give productivity-linked bonus and non-productivity-linked bonus for 2019-2020 was taken at the meeting of the Union Cabinet, Minister of Information and Broadcasting Prakash Javadekar told reporters.
The bonus, to be given in a week’s time, will encourage the middle-class to spend and thus add to the demand in the economy, the minister said.
“More than 3 million non-gazetted employees will be benefited by the bonus announcement and total financial implication will be Rs 3,737 crores,” he said after a cabinet meeting in Delhi. “This will boost demand in the market.”
Finance Minister Nirmala Sitharaman had on October 12 announced steps to stimulate consumer demand, including advance payment of a part of the wages of its employees during the festival season and more capital spending as it tries to bolster the pandemic-hit economy.
