For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
Oneindia App Download

Cabinet approves Productivity Linked Bonus to railway employees for the financial year 2020-21

|
Google Oneindia News

New Delhi, Oct 06: The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the Productivity Linked Bonus (PLB) equivalent to 78 days' wages for the financial year 2020-21 for all eligible non-gazetted Railway employees (excluding RPF/RPSF personnel).

Cabinet approves Productivity Linked Bonus to railway employees for the financial year 2020-21

The financial implication of payment of 78 days' PLB to railway employees has been estimated to be Rs.1984.73 crore. The wage calculation ceiling prescribed for payment of PLB to the eligible non-gazetted railway employees is Rs.7000/- p.m. The maximum amount payable per eligible railway employee is Rs. 17,951 for 78 days.

About 11.56 lakh non-gazetted Railway employees are likely to benefit from the decision. Payment of PLB to eligible railway employees is made each year before the Dusshera/ Puja holidays. The decision of the Cabinet shall be implemented before the holidays for this year as well.

50 trains affected due to Bharat Bandh, all services restored now: Railways50 trains affected due to Bharat Bandh, all services restored now: Railways

The PLB amount of 78 days' wages were paid for the financial years from 2010-11 to 2019-20. For the year 2020-21 also PLB amount equivalent to 78 days' wages will be paid which is expected to motivate the employees for working towards improving the performance of the Railways.

The Productivity Linked Bonus on Railway covers all non-gazetted railway employees (excluding RPF/RPSF personnel) who are spread over the entire country.

Method for calculating PLB:

a) The PLB has been paid as per formula approved by the Cabinet in its meeting held on 23.9.2000 for the years 1998-99 to 2013-14 (except 2002-03 to 2004-05 when slight changes were done with respect to Capital Weightage and Staff Strength). This formula was input : output based where output was reckoned in terms of equated net tonne kilometres and input was reckoned as the non-gazetted staff strength (excluding RPF/RPSF personnel) modified by Capital Weightage.

b) For the financial year 2012-13, PLB for 78 days was approved as a special case with the condition that the formula for PLB would be revisited keeping in view the recommendations of the Sixth CPC and the views of the Ministry of Finance. Consequently, the Ministry of Railways constituted a Committee to evolve a new formula.

c) The Committee recommended that weightage to both the formula of year 2000 and die new formula based on Operation Ratio (OR) may be in the ratio of 50 : 50. This formula ensured equal representation to the productivity in terms of physical parameters as well as financial parameters. The formula recommended by the Committee has been used for calculation of PLB from 2014-15 to 2019-20.

Here are the Highlights:

  • Cabinet approves Productivity Linked Bonus equivalent to 78 days' wage to eligible non-gazetted
    Railway employees (excluding RPF/RPSF personnel) for financial year 2020-21. About 11.56 lakh
    non-gazetted Railway employees are likely to benefit from the decision.
  • Cabinet approves setting up of 7 Mega Integrated Textile Region and Apparel ( PM MITRA ) Parks
    with a total outlay of Rs. 4,445 crore over 5 years; Move inspired by the 5F vision of PM
    Narendra modi. Farm to Fibre to Factory to Fashion to Foreign
  • The scheme will help in setting up world-class industrial infrastructure that would attract cutting age technology and boost FDI and local investment in the sector.
  • PM-MITRA will offer an opportunity to create an integrated textiles value chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing at one location.

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X