On Wednesday, The union cabinet ministry has decided to give Rs 3,737 crore bonus to 30.67 lakh central government employees during the festival season in order to encourage spending and add demand in the economy.
The decision was taken at the union cabinet meeting Minister of Information and Broadcasting Prakash Javedakar. The decision will productivity-linked bonus and non-productivity-linked bonus for FY.
The union cabinet minister also also allowed the extension of a scheme for cooperative NAFED will supply 12 lakh tonne apple in Jammu and Kashmir during the
ongoing 2020-21 season.
Here are the few key decisions taken by the Union Cabinet .
Cabinet minister gave approval for Adaptation of the Jammu & Kashmir Panchayati Raj Act, 1989. This approval will help to set all the three tiers of grass-root level democracy like in other parts of the country.
The Cabinet also approved productivity linked bonus and non-productivity linked bonus for 2019-2020. Under this Scheme Those who are set to benefit from this include 16.97 lakh non-gazetted employees of commercial establishments like railways, posts, defence, EPFO, ESIC etc. will get PLB and the financial implication would be Rs 2,791 crore.
Before Vijayadashami, The bonus will be given in a single installment, through Direct Benefit Transfer.
This announcement comes after Finance Minister Nirmala Sitharaman last week announced on Leave Travel Concession (LTC) voucher scheme, which will available for private sector employees, and a festival advance for government employees to rise consumption demand.
The decision to extend the Market Intervention Scheme for procurement of apples in Jammu & Kashmir for the year 2020-21 was also approved.
Apart from this decision, the union Cabinet minister also approved a Memorandum of Understanding between India and Nigeria on cooperation in the research and uses of outer space for peaceful purposes.