Good news for railway employees! Cabinet approves bonus for staffers; check date, category, other details

The government announced a productivity-linked bonus for over 11.72 lakh railway employees, rewarding satisfactory performance with a total payout of 2,028.57 crore. Each employee may receive up to 17,951, aimed to be disbursed before Dussehra and Diwali.

Livemint
Published4 Oct 2024, 09:42 AM IST
The Union Cabinet, chaired by Prime Minister Narendra Modi, approves 78-day productivity linked bonus for over 11.72 lakh railway employees
The Union Cabinet, chaired by Prime Minister Narendra Modi, approves 78-day productivity linked bonus for over 11.72 lakh railway employees

To reward railway employees for their performance ahead of the upcoming festival season, Prime Minister Narendra Modi-led government announced a productivity-linked bonus (PLB) to staffers. The Union Cabinet, chaired by PM Modi, approved the payment of PLB worth 2,028.57 crore for 78 days to over 11.72 lakh railway employees on Thursday.

Also Read | Cabinet approves mega schemes for agriculture sector

The Railway bonus will be awarded to employees with satisfactory performance during the festival season. Here are all the details about the Railway Employees Bonus 2024:

Who will get the Railway Bonus 2024?

The total bonus amount of 2,028.57 crore will be issued to 11.72 lakh railway employees, including a wide range of non-gazetted railway staff, including track maintainers, loco pilots, train managers (guards), station masters, supervisors, technicians, technician helpers, pointsmen, ministerial staff, and other Group C employees.

Also Read | Indian Railway Finance Corporation share are down by -0.06%, Nifty down by -0.14%

Railway Bonus 2024 date

There has been no official announcement of the railway bonus date so far. However, the government is likely to disburse the bonus before the Dussehra and Diwali holidays, reported CNBC Awaaz.

Railway Bonus 2024 amount

Each eligible railway employee can receive a maximum bonus of 17,951 for 78 days' worth of wages. The decision to release bonuses for employees was announced due to the railways' impressive performance during the financial year (FY 2023-24).

Also Read | Indian Railway Catering & Tourism Corporation share are down by -0.48%, Nifty up by 0.1%

The Indian Railways achieved a record performance during the previous financial year. Improved infrastructure, a boost in capex, and high efficiency helped the Indian Railways load 1,588 million tonnes of cargo and transport approximately 6.7 billion passengers, according to theCabinet.

Railway Bonus 2024 eligibility

The bonus announced for railway employees will depend on the staffers' performance in the year. There has been no clear information about the criteria of performance assessment.

"The payment of PLB acts as an incentive to motivate the railway employees for working towards improvement in the performance of the Railways," according to the Cabinet's official statement.

Also Read | Rail employee detained for stealing and setting off detonators in MP’s Burhanpur
Also Read | Government to rope in Railways to rein in sky-high onion prices
Also Read | Bomb threat to target multiple railway stations in Rajasthan raises concern
Also Read | Cabinet approves mega schemes for agriculture sector

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First Published:4 Oct 2024, 09:42 AM IST
Business NewsNewsIndiaGood news for railway employees! Cabinet approves bonus for staffers; check date, category, other details

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