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NIFTY23,4060.33%
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ENERGY40,1970.02%

Goa Government Announces One-Time Financial Incentive for Private Sector Employees

The Goa government announced a one-time financial incentive of Rs 15,000 for persons working in the private sector for more than 20 years. This decision was made public on Friday by Chief Minister Pramod Sawant, who spoke at a function to mark Labour Day.

At the event, which was attended by Labour Minister Atanasio Monserratte, the Chief Minister felicitated a few persons who have completed 20 years of service in the private sector. To claim the incentive, either the managements of private companies or workers themselves can apply to the Labour Welfare Department with proof of service of more than 20 years.

The Chief Minister appealed to people to opt for jobs in the private sector, which are highly paid, rather than hanker for government jobs. He also saluted labourers, stating that they have played a crucial role in infrastructure development in the country.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

It is estimated that about 1.4 lakh labourers registered with the state government can benefit from the Labour Welfare Fund. The Chief Minister appealed to private firms to register their employees with the government for this purpose, allowing them to claim the one-time financial incentive of Rs 15,000.

CategoryNumber of Labourers
Total Labourers Registered1.4 lakh
Estimated to Benefit from Labour Welfare Fund1.4 lakh
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