Early Diwali for Railway employees! Cabinet approves Productivity Linked Bonus incentive
This financial implication of payment Productivity Linked Bonus to railway employees is estimated to cost Rs 2,245.45 crores.
Ahead of festive season, giving another reason to Railway employees to celebrate, Union Cabinet on Wednesday approved Productivity Linked Bonus (PLB) incentive. The Cabinet meet was chaired by Prime Minister Narendra Modi.
As per the official statement, this PLB is equivalent to 78 days wages which will be given to eligible non-gazetted railway employees (excluding RPF/RPSF personnel) for the financial year 2016-17. About 12.30 lakh non-gazetted Railway employees are likely to benefit from the decision.
This financial implication of payment PLB to railway employees is estimated to cost Rs 2,245.45 crores. The wage calculation ceiling prescribed for payment of PLB is Rs 7,000 per month. The maximum amount payable per eligible railway employee is Rs 17,951 for 78 days, Cabinet said.
The main objective of this incentive is to improve the productivity, ensure safety, speed and service for Railway customers.
"Indian Railways operates on the principle of maximum public welfare, and in this context, this bonus payment will help in improving accountability and efficiency in railways operations," the Cabinet added.