Telangana Announces Record ₹1.95 Lakh Bonus for Singareni Workers
The Telangana government has declared a substantial bonus for Singareni Collieries Company Limited (SCCL) employees. Permanent workers will receive ₹1,95,610 each, while contract workers will get ₹5,500. The bonus, totaling ₹819 crore, represents 34% of SCCL's net profits and will benefit about 41,000 permanent and 30,000 contract workers. SCCL reported total revenue of ₹6,394 crore and net profits of ₹2,360 crore. Chief Minister Revanth Reddy announced plans for an additional Diwali bonus and expressed concerns about mine privatization, requesting the Centre to return leased mines to Singareni. The state also reported a ₹7,000 crore revenue loss due to GST structure changes and is seeking compensation from the Centre.
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The Telangana government has announced a substantial bonus for employees of the Singareni Collieries Company Limited (SCCL), marking a significant milestone in the state's profit-sharing policy. This decision comes as a boost to thousands of workers in the coal mining sector.
Record Bonus Allocation
Under the new bonus scheme:
- Permanent workers will receive ₹1,95,610 each
- Contract workers will be awarded ₹5,500
The state government has allocated 34% of Singareni's net profits, amounting to ₹819 crore, to be distributed among the workforce. This generous bonus will benefit approximately 41,000 permanent employees and 30,000 contract workers.
SCCL's Financial Performance
SCCL has reported impressive financial figures:
| Category | Amount (in crore) |
|---|---|
| Total revenue | 6394.00 |
| Net profits | 2360.00 |
| Allocation for future investments | 4034.00 |
Government's Stance and Future Plans
Chief Minister Revanth Reddy emphasized the significant contributions of SCCL workers and announced plans for an additional bonus during Diwali. The government's commitment to the welfare of SCCL employees is evident in these decisions.
Concerns Over Privatization
The Chief Minister raised concerns about the privatization of mines and has requested the Centre to return leased mines to Singareni. This move underscores the state government's commitment to maintaining public sector involvement in the coal mining industry.
GST Impact on State Revenue
In a related development, Chief Minister Reddy highlighted that Telangana has experienced a loss of ₹7,000 crore in revenue due to changes in the Goods and Services Tax (GST) structure. The state government is seeking compensation from the Centre to address this shortfall.
This record bonus announcement reflects the Telangana government's focus on employee welfare and its efforts to balance economic growth with workers' benefits in the crucial coal mining sector.
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