Before Budget, Modi govt gifts Productivity Linked Reward extension to these employees!

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Updated: Jan 30, 2020 9:41 PM

Budget Session 2020: Two days before Budget presentation, the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved to extend the existing Productivity Linked Reward (PLR) Scheme beyond 2017-18 until any change is made in the Scheme

Productivity Linked Reward will be calculated on the existing wage ceiling for calculation of Bonus at Rs. 7000 per month. Productivity Linked Reward will be calculated on the existing wage ceiling for calculation of Bonus at Rs. 7000 per month.

Budget 2020: Two days before Budget presentation, the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved to extend the existing Productivity Linked Reward (PLR) Scheme beyond 2017-18 until any change is made in the Scheme. The decision will benefit over 28,000 employees/workers. “The Scheme will annually benefit to 28,821 Major Port Trusts and Dock employees/workers and the yearly estimated outgo will be Rs.46 crore,” Union Cabinet said in a statement today.

Bonus calculation

The statement further said that the Productivity Linked Reward will be calculated on the existing wage ceiling for calculation of Bonus at Rs. 7000 per month.

“This Scheme is fostering better industrial relationship and congenial work atmosphere in the Port Sector, apart from stimulating better productivity,” the Union Cabinet said.

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There is an existing scheme of Productivity Linked Reward (PLR) for the employees/workers of Major Port Trusts and Dock Labour Board, wherein Productivity Linked Reward is granted on the basis of the composite Ports Performance Index (50% weightage to All India Performance and 50% weightage to individual port performance) on yearly basis based on the settlement arrived at between Management and the Labour Federations of the Major Port Trusts.

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Budget Session 2020

In a statement on Thursday, PM Modi said the Government was open for discussion on all issues in the forthcoming Budget Session of Parliament. While addressing the all-party meeting on the eve of the Budget session which is beginning on the 31st of January 2020, PM welcomed the suggestions of most of the Members that the session should focus on the prevailing economic situation in the country.

““Most of the members have asked for discussion on the Economic situation concerning the country. I welcome this and we need to discuss the economic issues as suggested by you all,” PM Modi said.

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