As many as 3 million non-gazetted union government employees will get bonus amounting to Rs 3,737 crore as a step to revive demand in the economy, the cabinet decided on Wednesday.
"The Union cabinet has approved productivity linked and non-productivity linked bonus for 2019-2020. The bonus will be given in a single installment, through Direct Benefit Transfer, before Vijayadashami," said Union Minister Prakash Javadekar at a press briefing, referring to the holiday on October 25.
"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.
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