Festive bonanza for railway employees, Cabinet approves productivity-linked bonus

Prime Minister Narendra Modi chaired a Cabinet meeting at 7, Lok Kalyan Marg on Wednesday. The Cabinet approved the payment of productivity-linked bonus equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted railways employees. This comes as a good news for the 13 lakh employees of the Indian Railways ahead of the festive season.

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The Cabinet also approved the merger of National Council for Vocational Training (NCVET) and the National Skill Development Agency into the National Council for Vocational Education and Training.

Cabinet has approved merger of National Council for Vocational Training and the National Skill Development Agency into the National Council for Vocational Education and Training: Union Minister RS Prasad pic.twitter.com/NSmJC8hof7

— ANI (@ANI) October 10, 2018

"The NCVET will regulate the functioning of entities engaged in vocational education and training, both long-term and short-term, and establish minimum standards for the functioning of such entities," an official statement said.

It will be headed by a chairperson and will have executive and non-executive members. "This (merger) is also expected to facilitate the ease of doing business by providing a steady supply of skilled workforce to the industry and services," the statement said.

The Cabinet Committee on Economic Affairs (CCEA) also approved a proposal for the closure of Biecco Lawrie Limited, including giving voluntary retirement scheme/voluntary separation scheme to the employees of the company.