Atmanirbhar Bharat Rozgar Yojana 2020
During the COVID recovery process, Atmanirbhar Bharat Rozgar Yojana is being implemented to promote the development of new employment opportunities. For new qualifying workers engaged on or after 1 October 2020, the Central Government will provide a two-year subsidy. Until June 30, 2021, the Aatm Nirbhar Bharat Rojgar Yojna will remain operational.
Atmanirbhar Bharat Rozgar Yojana 2020
Scale for Aatm Nirbhar Bharat Rojgar Yojna
|Establishments employing up to 1000 Employees||Establishments employing more than 1000 Employees|
|Employee’s Contribution (12% of Wages), Employer’s Contribution (12% of Wages), Total – 24% of Wages||Only Employee’s EPF contributions (12% of EPF Wages)|
Beneficiary Criteria for Atmanirbhar Bharat Rozgar Yojana
For qualified new workers entering EPFO-registered establishments and for those who left these establishments during the COVID pandemic, the Atmanirbhar Bharat Rozgar Yojana will apply. For Aatm Nirbhar Bharat Rojgar Yojna, the beneficiary requirements are as follows:-
- New Employees joining employment in EPFO registered establishments on monthly wages less than Rs. 15,000 during the validity period of the Atmanirbhar Bharat Rozgar Yojana.
- EPF members drawing a monthly wage of less than Rs. 15,000 who made exit from employment during COVID pandemic from 1 March 2020 to 30 September 2020 and are employed on or after 1 October 2020.
- The subsidy support to get credited upfront in Aadhaar seeded EPFO Account (UAN) of eligible new employees.
Eligibility Criteria for Establishments in Atmanirbhar Bharat Rozgar Yojana
#AatmanirbharBharat Package 3.0
Atmanirbhar Bharat Rozgar Yojana Eligibility criteria for Establishments. pic.twitter.com/GvAjAcvW05
— BJP (@BJP4India) November 13, 2020
Establishments registered with EPFO if they recruit new employees as a minimum of 2 new employees if the reference base is 50 employees or less compared to the reference base of employees as of September 2020. A minimum of 5 new hires if there are more than 50 employees on the reference base.
Press Conference by FM Nirmala Sitharaman Of Atmanirbhar Bharat Rozgar Yojana
Here are the important points of the Press Conference by FM Nirmala Sitharaman
- Rs. 3,000 crores will be given to EXIM Bank for the promotion of project exports through Lines of Credit under IDEAS Scheme.
- An additional outlay of Rs. 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current FY to boost rural employment.
- Rs. 65,000 crores to be provided for subsidized fertilisers. This will help 140 million farmers.
- For primary residential real estate sales, relief on the difference between circle rate & agreement value up to 20% vs 10% earlier.
- Income tax relief for developers and home buyers.
- Support for Construction & Infrastructure-Performance security on contract to be reduced to 3% instead of 5%. Earnest Money Deposit will not be required for tenders and will be replaced by the Bid Security Declaration. Relaxations will be given till 31st December 2021.
- This extra budgetary resource being provided will help 12 Lakh houses to be grounded & 18 Lakh houses will get completed as a result.
- Rs. 18,000 crores will be provided over and above the budget estimate which was mentioned in the Budget 2020-21 under Pradhan Mantri Awas Yojana. particularly for the urban areas.
- Rs. 1.46 lakh crore boost for Aatmanirbhar Manufacturing Production-linked incentive for 10 champion sectors.
- Guaranteed credit support for 26 stressed sectors identified by the Kamath Committee. Original ECLGS had one year of moratorium and 4 years of repayment, the new scheme will have a 1-year moratorium and 5 years of repayment.
- The existing Emergency Credit Line Guarantee Scheme extended till 31st March 2021.
- If new employees of a requisite number are recruited from October 1, 2020, to June 30, 2021, the establishments will be covered for the next two years
- Every EPFO registered organization – if they take in new employees or those who had lost jobs b/1 March 1 & Sept 30 – these employees will get benefits.
- Establishments registering with EPFO after the commencement of Scheme to get subsidy for all new employees. Scheme to be in operation till 30 June 2021.
- Pradhan Mantri Rozgar Protsahan Yojana was implemented up to 31.03.2019. It had covered all sectors and is expected to run for 3 years. So even if someone joined the scheme on 31.03.2019, they would be covered under that existing scheme from then three years
- Atmanirbhar Bharat 3.0: Finance Minister announced new job scheme called Atma Nirbhar Rozgar Yojana to create jobs in the country. The new scheme will be effective from 1 October 2020
- Rs. 1,32,800 crores have gone as income tax refunds to 39.7 lakh taxpayers
- SBI Utsav cards being distributed, under the festival advance scheme announced on 12th Oct11 states sanctioned ₹3,621 crores as an interest-free loan towards capital expenditure
- Under the Emergency Credit Liquidity Guarantee Scheme, a total amount of ₹2.05 lakh crores has been sanctioned to 61 lakh borrowers, out of which ₹1.52 lakh crores has been disbursed
- Rs. 7,227 crores disbursed under the Special Liquidity Scheme for NBFCs/HFC
- Credit boost has been given to 2.5 crore farmers through Kisan Credit Cards, ₹1.4 lakh crores has been distributed to farmers.
- Rs. 25,000 crores have been disbursed to farmers from Additional Emergency Working Capital Funding through NABARD.
- The work has commenced on creating a portal for migrant workers.
- There has been very good progress on the ‘One Nation-One Ration Card’ in 28 states covering 68.8 crore beneficiaries.
- About 157.44 lakh eligible farmers have received Kisan Credit Cards and sanctioned a limit of ₹1,43,262 crore in two phases.
- Around 26.2 lakh loan applications were received under the PM SVANidhi scheme for street vendors.
- The government will announce a few measures related to the stimulus.
- Bank credit growth is up 5.1%; markets are at a record high.
- RBI has predicted a strong likelihood of the Indian economy returning to positive growth in the third quarter itself.
- India’s GDP forecast for the calendar year 2021 has been revised upwards to 8.6% from 8.1% projected earlier: Moody’s
- Strong recovery is being seen, while Covid-19 cases have fallen.
Atmanirbhar Bharat Rozgar Yojana 2020-21
Atmanirbhar Bharat Rozgar Yojana The package, ahead of Diwali, could deliver a stimulus totaling around 1.48 lakh crore to help the economy, according to a study by Reuters news agency. The economic stimulus package is likely to concentrate on MSMEs, rural and urban income classes, and sectors such as hospitality and aviation. On 19 October, the finance minister announced that the government had begun a mid-year economic review and was open to providing a further stimulus package following demands from different quarters and industry bodies.
Read in Gujarati : Atmanirbhar Bharat Rozgar Yojana 2020