Govt Announces Rs358 cr Diwali Bonus for Singareni Workers
In addition to the Diwali bonus, the workers have recently received other financial incentives, including a 33 per cent profit-sharing amounting to Rs796 crore. Each worker received an average of Rs1.9 lakh from this profit-sharing scheme
Telangana Deputy Chief Minister Bhatti Vikramarka announcing the Diwali bonus for Singareni employees
Hyderabad: The State government on Thursday announced the much-awaited Diwali bonus for Singareni workers.
Under the Production Linked Reward Scheme (PLRS), a total of Rs358 crore has been sanctioned for this purpose, which is Rs50 crore more than last year. Each worker will receive Rs93,750 as part of this bonus, which will be deposited into their accounts by Friday afternoon.
The bonus will benefit around 40,000 workers employed in Singareni, offering them financial relief ahead of the festive season. This initiative is in line with the practices under the JBCCI policies, where bonuses are linked to the production levels achieved by the company. The bonus payout comes just in time for Diwali, following a directive from the Deputy Chief Minister to ensure timely disbursement.
In addition to the Diwali bonus, the workers have recently received other financial incentives, including a 33 per cent profit-sharing amounting to Rs796 crore. Each worker received an average of Rs1.9 lakh from this profit-sharing scheme, while outsourced staff were given Rs5,000 each. Furthermore, an additional Rs25,000 per worker was paid as a festive advance, bringing the total disbursements to approximately Rs1,250 crore in a span of just one month.
Singareni CMD N Balaram has been instructed to ensure proper arrangements for the bonus distribution.
On the occasion, Deputy Chief Minister Bhatti Vikramarka urged the workers to save the bonus money wisely and consider using it for family needs or investing in government savings schemes, rather than spending it frivolously.
