MINISTER OF LABOUR AND EMPLOYMENT
(SHRI BHUPENDER YADAV)
(a) to (c): COVID-19 pandemic followed by lockdowns has affected economies across the globe including India. Government has taken several initiatives to address the challenges and threats posed by the pandemic.
The Government is providing fiscal stimulus of more than rupees twenty seven lakh crore as part of the Aatmanirbhar Bharat financial Package. Aatmanirbhar Bharat package comprises various long term schemes /programmes/ policies for making the country self-reliant and to create employment opportunities.
Aatmanirbhar Bharat Rozgar Yojna (ABRY) Scheme has been launched with effect from 1st October 2020 to incentivize creation of new employment along with social security benefits and restoration of loss of employment. This scheme reduces the financial burden of the employers and encourages them to hire more workers. Under ABRY, Government of India is providing for a period of two years both the employees’ share (12% of wages) and employer’s share (12% of wages) of contribution payable or only the employees’ share, depending on employment strength of the EPFO registered establishments. The new employees under the scheme include those who lost their jobs during Covid-19 and didn’t join in any EPF covered establishment upto 30.09.2020. The terminal date for registration of beneficiary under the scheme has been extended from 30th June, 2021 to 31st March, 2022. As on 12th July 2021, total benefit of around Rs.993 crores has been given through 84,390 establishments covering more than 22 lakh beneficiaries.
Under Pradhan Mantri Garib Kalyan Yojana (PMGKY), Government of India has contributed both 12% employer’s share and 12% employee’s share under Employees Provident Fund (EPF), totaling 24% of the wage for the wage month from March to August, 2020 for the establishments having upto 100 employees with 90% of such employees earning less than Rs. 15000/-. This has helped in providing employment in EPFO registered establishments during post Covid period.
PM- SVANidhi Scheme has facilitated collateral free working capital loan upto Rs.10,000/- for one-year tenure to street vendors, to help them resume their businesses during the post Covid period.
Statutory PF contribution of both employer and employee was reduced to 10% each from existing 12% each for all establishments covered by EPFO for three months i.e. May to July 2020.
Besides above, Government has taken various steps for generating employment in the country like encouraging various projects involving substantial investment and increasing public expenditure on schemes like Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pt. DeenDayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) and Deendayal Antodaya Yojana-National Urban Livelihoods Mission (DAY-NULM).
The unemployment benefit under the Atal Beemit Vyakti Kalyan Yojana being implemented by the Employees’ State Insurance Corporation (ESIC) has been enhanced to 50% from 25% of the average earning, payable upto 90 days, alongwith relaxation of eligibility conditions to claim the benefit, for insured workers who have lost employment due to COVID-19.
In addition, RBI and Government of India have introduced measures to infuse liquidity in the economy to sustain the market economy and raise the level of employment.
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