The Steel Authority of India Limited (SAIL) has announced a 6% increase in Non-Executive Personnel Annual Performance Incentive / Ex-Gracia / Bonus from last year in view of the upcoming Durga Puja / Dussehra festivals. It was decided on the basis of negotiation and mutual agreement between SAIL management and workers’ representative senior trade union leaders and the constituent unions of the National Joint Committee for Steel Industry (NJCS) such as INTUC, CITU, AITUC, HMS and BMS. In a move towards the government’s initiative to encourage the working class, SAIL has announced increased payment of X-Gracia during the current festive season compared to last year.
SAIL’s five integrated steel plants at Bhilai, Bokaro, Durgapur, Burnpur and Rourkela as well as non-executive personnel from Raw Material Division and Colliery Division will be paid Rs 16,500 while non-executive personnel from SAIL’s other plants and units. 14,500 will be paid.
SAIL President Anil Kumar Chaudhary said, “SAIL always puts the best care of its workforce at the top of its priority and is committed to implementing all kinds of initiatives of the government in this direction. This X-Gracia will be helpful in increasing the spending capacity of SAIL workers during the current festive season. ”
SAIL will pay performance non-executive / ex-gracia to its non-executive personnel before the start of the upcoming Durga Puja / Dussehra festivals, enhancing their purchasing power during these festivals. Along with this, it will help increase the economic liquidity in the market and will also promote economic activities in Steel Township. Not only this, it will help to reduce the adverse impact on the economy due to Kovid to some extent.