Tea Garden Workers in North Bengal Get 16% Bonus
By Rediff Money Desk, Kolkata Sep 23, 2024 17:38
Tea garden workers in north Bengal's Dooars and Terai regions will receive a 16% bonus for the 2023-24 financial year. The Tea Association of India reached an agreement with trade union representatives.
Kolkata, Sep 24 (PTI) Tea garden workers in north Bengal's Dooars and Terai regions will receive a 16 per cent bonus for the 2023-24 financial year, an industry body said on Monday.
The Tea Association of India, in a statement, said that the industry-wide bonus agreement was reached after due deliberations between trade union representatives and members of the Consultative Committee of Plantation Associations (CCPA), which represents employers.
TAI said that the industry has been passing through a severe financial crisis for a prolonged period.
In the previous 2022-23 fiscal, the tea industry in north Bengal had settled for a bonus payout of 19 per cent.
According to TAI, the economic sustainability of tea gardens in north Bengal is in "jeopardy".
The adverse weather conditions have affected the health of bushes, leading to a considerable drop in production during the year.
The crop of the first and second flush, which produce the best quality tea, has suffered a loss, affecting cash flow of the gardens, TAI said.
"Despite the challenges, the managements have decided to make some compensatory payments in addition to the Bonus Act of 1965 for the sake of industrial peace and harmony. A figure of 16 per cent was agreed upon.
The Tea Association of India, in a statement, said that the industry-wide bonus agreement was reached after due deliberations between trade union representatives and members of the Consultative Committee of Plantation Associations (CCPA), which represents employers.
TAI said that the industry has been passing through a severe financial crisis for a prolonged period.
In the previous 2022-23 fiscal, the tea industry in north Bengal had settled for a bonus payout of 19 per cent.
According to TAI, the economic sustainability of tea gardens in north Bengal is in "jeopardy".
The adverse weather conditions have affected the health of bushes, leading to a considerable drop in production during the year.
The crop of the first and second flush, which produce the best quality tea, has suffered a loss, affecting cash flow of the gardens, TAI said.
"Despite the challenges, the managements have decided to make some compensatory payments in addition to the Bonus Act of 1965 for the sake of industrial peace and harmony. A figure of 16 per cent was agreed upon.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 10.41 (+ 0.48)
- 53727067
- GTL Infrastructure
- 2.41 (+ 4.78)
- 49996392
- Five-Star Business F
- 797.20 ( -1.39)
- 47756593
- Spicejet Ltd.
- 61.84 ( -0.87)
- 37121295
- Reliance Power L
- 44.16 (+ 4.99)
- 36538149
MORE NEWS
Gulf Oil Promoter Sells 4% Stake for Rs 263 Crore
Gulf Oil International Mauritius Inc. sold a 4% stake in Gulf Oil Lubricants India for...
Zaggle Acquires Stakes in Span Across IT &...
Fintech firm Zaggle invests Rs 48 crore in Span Across IT Solutions and Mobileware...
Swiggy Files Updated IPO Papers: Eyes Rs 3,750 Cr
Swiggy files updated IPO papers with Sebi, aiming to raise Rs 3,750 crore through fresh...