Good news for railway employees, 78 days bonus approved, oil companies also compensated

The Union Cabinet has approved the payment of a Productivity Linked Bonus equivalent to 78 days to Railway employees for the financial year 2021-22. Productivity Linked Bonus in Railways covers all non-gazetted railway employees (except RPF/RPSF personnel) spread across the country.

Let us tell you that this bonus was announced a few days ago, but the approval of the cabinet has been received on Wednesday. Now about 12 lakh non-gazetted railway employees are likely to benefit from this new decision. At the same time, there will be a burden of Rs 1832 crore on the government.

Calculations up to Rs.7000: The wage calculation limit prescribed for payment of bonuses to eligible employees is Rs.7,000 per month. The maximum payable amount for 78 days for an eligible railway employee is Rs.17,951.

Relief to oil companies: At the same time, one-time compensation to state-run oil marketing companies have been approved for LPG LPG. The Finance Ministry has agreed to pay Rs 22,000 crore in cash. Indian Oil, Bharat Petroleum (BPCL), and Hindustan Petroleum Corp (HPCL) together supply more than 90 percent of India's petroleum fuel.

These companies have suffered heavy losses every quarter. These three state-owned oil companies posted a combined loss of Rs 18,480 crore in the first quarter of the current financial year (April-June) on account of a decline in marketing margins on petrol, diesel, and domestic LPG. After this, there was a demand for compensation.

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