The government is aiming to create at least 50-60 lakh jobs by June next year in the formal sector through its Atma Nirbhar Bharat Rozgar Yojana (ABRY), which Finance Minister Nirmala Sitharaman announced last week.
The Employees’ Provident Fund Organisation (EPFO) data showed that around 20 lakh jobs were lost in the initial months of the coronavirus pandemic, thus, the government is targeting 50-60 lakh jobs by June 2021.
“We are targeting 5-6 million jobs by June next year. The Employees’ Provident Fund Organisation (EPFO) data shows that around 2 million jobs were lost in the initial months of the pandemic,” a government official told the Business Standard.
Speaking about the Atma Nirbhar Bharat Rozgar scheme, the official said that the private companies will have to maintain a minimum net addition to their workforce each month from October 2020-June 2021 to get the Employees’ Provident Fund (EPF) subsidy for the new recruits, adding that the Centre will monitor the payroll of all such private firms.
Source: Business Today
