E-Paper
Centre to pay PF share of employer, employee till 2022 for certain people working in formal sector
Union finance minister Nirmala Sitharaman highlighted the Centre’s effort to support migrant workers who returned to their native place after losing jobs in the informal sector.
Union finance minister Nirmala Sitharaman on Saturday announced that the Central government will pay provident fund (PF) contribution for both the employer and the employee till 2022 for those who were called back to work for small scale jobs in the formal sector after losing their job. She also highlighted the Centre’s effort to support migrant workers who returned to their native place after losing jobs in the informal sector.
“If in a district, more than 25,000 migrant workers working in the informal sector return to their native place, [they] will get benefits from 16 Central schemes for employment. In 2020, we increased the MGNREGA budget from ₹60,000 cr to around ₹1 lakh crore due to Covid,” the minister added.
Sitharaman was in Lucknow for the launch of several schemes and initiatives. She addressed the audience at the launch of ‘Mission Shakti 3.0’, under which ₹30.12 crores were transferred in the account of 1.55 lakh girls. Sitharaman said women shall spearhead the development of Uttar Pradesh under chief minister Yogi Adityanath’s leadership.
She also highlighted the financial inclusion policies, including Stand-Up India Scheme, Pradhan Mantri MUDRA Yojana, Jan-Dhan Yojana, for women and women entrepreneurs over the last seven years.
The Union finance minister also attended the launch of the 'Ubharte Sitaare Fund' (USF) and interacted with founders of various companies, including start-ups, identified under the Ubharte Sitaare programme. The programme identifies Indian companies that have the potential to be future champions in the domestic arena while catering to global demands.
Sitharaman said Uttar Pradesh has effectively implemented the One District One Product Programme, which provides the ideal ecosystem for the success of a program like the Ubharte Sitaare Programme.
