Another relief package of Modi government, Finance Minister announced self-reliant India 3.0
For two years, the government will give a full 24 per cent of the PF of newly recruited employees as subsidy to organizations with up to 1000 employees. This will be applicable from 1 October 2020. The government will give subsidy for 2 years for the new employee's 12 percent PF contribution in an institution with more than 1000 employees. About 95 percent of the institutes will come in it and crores of employees will benefit
The measures are expected to create 78 lakh additional jobs and boost steel production by 25 lakh metric tonnes (LMT) and cement by 131 LMT.
02:01 PM: Production-linked incentive scheme to be extended to 10 more sectors. The scheme will provide a Rs 1.46 lakh crore boost to manufacturing. Sitharaman said that the government has already approved production-linked incentive schemes for 3 sectors at a cost of Rs 51,355 crore as stated below.
Mobile manufacturing and specified electronics components at a cost of Rs 40,995 crore; critical key starting materials, drug intermediates and active pharma ingredients at a cost of Rs 6,940 crore. This to boost economic growth and domestic employment.
01:48 PM: Nirmala Sitharaman also announced that the Emergency Credit Line Guarantee Scheme (ECGLS) has been extended till March 31, 2021. The government has also extended the ECGLS to all stressed sectors.
"Guaranteed credit support for 26 stressed sectors identified by the Kamath Committee. Original ECLGS
To give relief to the derailed economy from the Corona crisis, the Modi government has announced a self-sufficient India 3.0. Under this, the emphasis is on job creation and giving relief to the troubled sector. The government has given relief to everyone from employment to real estate, from employees to land buyers.
Finance Minister Nirmala Sitharaman's press conference today announced another relief package, emphasis on job creation and relief to troubled sector
To bring the economy derailed in the Corona crisis, the Modi government has announced another relief package. Finance Minister Nirmala Sitharaman said in the press conference that recent figures are showing signs of improvement in the economy. The government has announced self-sufficient India 3.0. Self-reliant Bharat Rojgar Yojana has been started so that new employment can be created.
In this, efforts have been made to provide relief to everyone from corporate to farmers, from real estate to the troubled sector. Finance Minister Nirmala Sitharaman said that 12 declarations will be made under Self-reliant India 3.0. He said that recent figures are showing signs of improvement in the economy.
Self-Employed India Employment Scheme
Its goal is that more and more employees join EPFO and take advantage of PF. Those employees who were not previously registered for PF and their salary is less than 15 thousand, then they will get the benefit of this scheme. Those who were not in the job from August to September, but after that are associated with PF, they will also get the benefit. This scheme will remain in force till 30 June 2021.
For two years, the government will give a full 24 per cent of the PF of newly recruited employees as subsidy to organizations with up to 1000 employees. This will be applicable from 1 October 2020. The government will give subsidy for 2 years for the new employee's 12 percent PF contribution in an institution with more than 1000 employees. About 95 percent of the institutes will come in it and crores of employees will benefit
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