Central employees have already received LTF and bonus gifts before Diwali. Several state governments and the railways have also announced bonuses for employees. With the opening of the lockdown, the boom in trade could also boost the Diwali market. Many companies, including Reliance, Maruti, Wipro, Infosys, have also started giving full pay back to their employees. Not only that, bonuses, promotions and increments are also given. No one has an exact estimate of how much money will come into the market after the bonus-increment or the announcement of the government. That. According to Global Financial Services, pre-LTA, bonuses, etc. during the festive season in the country will boost demand in the market again. Like the Center, private companies are also announcing facilities. With this, Rs. One to one and a half lakh crore could come.
Central employees have already received LTF and bonus gifts before Diwali. Several state governments and the railways have also announced bonuses for employees. With the opening of the lockdown, the boom in trade could also boost the Diwali market. Many companies, including Reliance, Maruti, Wipro, Infosys, have also started paying full wages to employees again. Not only that, bonuses, promotions and increments are also given. No one has an exact estimate of how much money will come into the market after the bonus-increment or the announcement of the government. That. According to Global Financial Services, pre-LTA, bonuses, etc. during the festive season in the country will boost demand in the market again. Like the Center, private companies are also announcing facilities. With this, Rs. One to one and a half lakh crore could come.
According to the Retailers Association, which has a membership of 16 million retailers, the current 80% return on trade will be 100% by Diwali. Kumar Rajagopalan, CEO, Retailers Association, says the wedding season is also starting from Diwali. Thus, from November to December, the total retail market was Rs. Two lakh crore is expected to be traded.
President of the Confederation of All India Traders B.C. Bhartiya says that at present about Rs. 7.5 to 8 lakh crore is being traded. It is hoped that in November, Rs. One to one and a half crore trade will come. Ritupurna Chakraborty, co-founder of HR company TeamLease, says the focus of companies is still on paying old wages. However, IT and some other sector companies have given separate incentives, bonuses and promotions.
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- For 47 lakh central employees, Rs. 36 thousand crores will come in the market. Railways will give 78 days bonus to 11.58 lakh employees.
- Maruti gave its annual variable performance reward in August, increments in October. Will also give bonuses next week.
- Reliance Group withdrew the pay cut and will now also offer bonuses.
- ICICI Bank increased the salaries of 80,000 employees by 8% and also increased bonuses.
- Tata Motors will also offer special bonuses and production link payments.
- Airtel has given increments to 80% of its employees since October.
- All the companies of Bhaskar Group will give bonus along with October salary.
- Jindal Steel and Power have also applied full pay.
- Asian Paint offered bonuses and increments equal to the basic salary.
- The Mahindra Group offered bonuses and increments in July-August.
- Infosys also offered incentives with 100% variable pay.
- Wipro will also offer bonuses and promotions.