New Delhi, November 12: Union Finance Minister Nirmala Sitharaman addressed the media on Thursday. The stimulus announcement came with an attempt to revive the stressed sectors impacted by COVID-19 just ahead of Diwali 2020.
As part of today's announcement under Atmanirbhar 3.0, FM Nirmala Sitharaman launched Atmanirbhar Bharat Rozgar Yojana to boost employment and create jobs. This will be effective from October 1, 2020. Under the new scheme, Aatmanirbhar Bharat Rozgar Yojana, any EPFO-registered employer takes on new employees or hires those who lost jobs between March 1 and September 30 will be given some benefits. Diwali Bonanza: PLI Scheme Approved by Modi Cabinet; 10 Sectors to Get Benefits Worth Rs 1.46 Lakh Crore Over 5 Years; Automobile Sector Gets Maximum Share; Know Details.
EPFO-Linked Atmanirbhar Bharat Rozgar Yojana Launched by FM Nirmala Sitharaman
EPFO registered establishments - if they take in new employees or those who lost jobs earlier - these employees will get some benefits
Effective from Oct 1, 2020 pic.twitter.com/NL6HzicZy0
— PIB in Maharashtra 🇮🇳 (@PIBMumbai) November 12, 2020
FM further highlighted that PMI, energy consumption, GST collection, daily railway freight tonnage, bank credit have shown a growth year-on-year.
Elaborating on the progress on some key items under Atmanirjhar Bharat 1.0, FM said the One Nation, One Ration Cards in 28 states has covered 68.8 crore beneficiaries. The coverage of PM SVANidhi is there in 30 states. Work on the portal for migrant workers has started. There has been a credit boost to 2.5 crore farmers through Kisan Credit cards.
She further mentioned that Rs 7,227 crores have been disbursed under the Special Liquidity Scheme for NBFCs/HFC.
The presser comes a day after the Union Cabinet gave its approval to the PLI scheme for 10 sectors, under which businesses will get incentives worth over Rs 2 lakh crore in 5 years. The scheme is aimed at enhancing India's manufacturing capabilities and exports. "It will make Indian manufacturers globally competitive, attract investment and enhance exports," said Union Minister Prakash Javadekar.