Recreation of Lost Jobs
The global spread of the corona virus (COVID-19) followed by lockdowns has affected economies across the globe including India. Covid-19 has resulted in large number of migrant workers going back to their native places. Government is taking several steps to ensure that the country is well prepared to face the challenges and threats posed by Covid-19. Government of India has announced an economic package of Rs. 20 Lakh Crore. Aatmanirbhar Bharat which focuses on Economy, Infrastructure, System, Vibrant Demography and Demand to create jobs for the youth has also been launched.
Government has launched Pradhan Mantri Garib Kalyan Yojana (PMGKY) for the poor to mitigate the impact of COVID-19 pandemic. Measures are intended at reaching out to the poorest of the poor, with food and money in hands, so that they do not face difficulties in buying essential supplies and meeting essential needs.
Under PMGKY, Government of India is contributing both 12% employers’ share and 12% employee’s share under Employees Provident Fund (EPF), totalling 24% of the wage for the wage month from March to August, 2020 for all the establishments having upto 100 employees with 90% of such employees earning less than Rs. 15000/-.
Statutory PF contribution of both employer and employee has been reduced to 10% each from existing 12% each for all establishments covered by EPFO for three months.
Government has taken various steps for generating employment in the country like increasing public expenditure on schemes such as Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
Self employment is being facilatated under Pradhan Mantri Mudra Yojana (PMMY). Under PMMY collateral free loans upto Rs. 10 lakh, are extended to micro/small business enterprises and to individuals to enable them to setup or expand their business activities.
Government of India has also launched PM SVANidhi Scheme to facilitate collateral free working capital loan upto Rs.10,000/- of one-year tenure, to approximately, 50 lakh street vendors, to resume their businesses.
This information was given by Shri Santosh Kumar Gangwar, Minister of State (I/C) for Labour and Employment in written reply to a question in Rajya Sabha today.
