Finance Minister Announces Employment Scheme In Latest Stimulus Package

Picture courtesy PTI

New Delhi: A new employment scheme is the highlight of the Atmanirbhar 3.0 stimulus package announced by Union Finance minister Nirmala Sitharaman on Thursday, ahead of Diwali.

“I am announcing the Atmanirbhar Bharat Rozgar Yojana which will incentivise creation of new employment opportunities during the COVID-19 recovery phase. This will be applicable for those joining employment in EPFO-registered establishments on monthly wages less than Rs 15,000 per month,” said Sitharaman.

“This will be effective from October 1, 2020. They will be covered for two years,” she added.

On a day when a Reserve Bank of India (RBI) panel said India is in the midst of a recession, Sitharaman asserted that there is active recovery in the economy with the markets at a record high and foreign reserves reaching US $560 billion.

“Quite a few indicators are showing a distinct recovery in the economy,” said the finance minister.

Sitharaman pointed out that key government schemes like ‘One Nation One Ration Card’ have made great stride.

“Twenty-eight states have implemented national portability under ‘One Nation One Ration Card’ scheme with effect from September 1, 2020. It now covers 68.6 crore beneficiaries who now have the option to collect their foodgrain from any FPS of choice in any of these 28 states/UTs,” said Sitharaman.

She added that other schemes which have been implemented effectively are Pradhan Mantri Matsya Sampada Yojana (PMMSY), Kisan credit cards and funding for farmers through NABARD.