Centre gives early Diwali gift: Rs 22000 cr grant for oil, LPG companies; bonus for railway employees

The central government has decided to give an early surprise to several sectors ahead of the festive season, adding to the Diwali 2022 celebrations. The new decisions by Centre bring good news for railway employees and oil and LPG companies.

In a Diwali bonanza for railway employees, the Centre approved the payment of a Productivity-Linked Bonus, which is equivalent to 78 days of wages, to railway employees for the financial year 2021-2022.

The Cabinet meeting on Wednesday informed that the Productivity-Linked Bonus (PLB) equivalent to 78 days of wages will be paid to non-gazetted railway employees, excluding RPF/RPSF personnel, for the financial year 2021-22.

A government statement announcing the same said, “The payment of PLB would serve as an incentive and result in motivating a large number of Railway employees, particularly those involved in execution and operations of railways, to improve their productivity and ensure safety, speed and service for Railway customers.”

Not just a bonus for railway employees, but the Centre has also decided to approve a grant of Rs 22,000 crore for oil companies to provide subsidies for LPG. The decision was made by the Union Cabinet, chaired by Prime Minister Narendra Modi.

The Cabinet meeting on Wednesday informed that the Productivity-Linked Bonus (PLB) equivalent to 78 days of wages will be paid to non-gazetted railway employees, excluding RPF/RPSF personnel, for the financial year 2021-22.

The Union Cabinet said that the companies covered under this grant are Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL), as per ANI reports.

The approval, the official statement said, would help the state-run oil companies to continue their commitment to the Atmanirbhar Bharat Abhiyaan, ensuring unhindered domestic LPG supplies and also supporting the procurement of Make in India products.

The statement also said between June 2020 and June 2022, the international prices of liquefied petroleum gas (LPG) increased by about 300 per cent. However, the statement said that to insulate consumers from fluctuations in international LPG prices, the cost increase was not fully passed on to consumers of domestic LPG. 

(With ANI inputs)

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