What is an incentive package ? Is this encouragement given only by the government ?

1 Answer

Answer :

The word motivation means motivation to do something ; Inspiration. The government or a business entity may allocate a certain amount of money to its workers or subordinates in order to increase the motivation to work. This is called an incentive package. The incentive package is not only made by the government but any business organization can do it for its workers or subordinates. For example, 2% incentive is given on remittances sent by expatriates. This is an incentive package allocated by the government to encourage expatriates to send money legally. In the budget of 2019-20 fiscal year, 3 percent cash incentive was given to BGMEA, an association of garment industry owners. This is also a kind of incentive package. And again, these would mean that you have to spend for these processes. In 2019, free mustard , maize , onion and mugdal seeds and checks were distributed among 1460 small and marginal farmers under the incentive program in Rabi and subsequent Kharif-1 season at Sapahar, Naogaon . This is also a kind of incentive.         

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