PM Modi’s job push gains momentum with 85 lakh beneficiaries and 1 lakh new establishments!

Not since Narendra Modi became PM, but ever since Modi was in Gujarat serving as Chief Minister, he always stressed on three things, food, shelter, job to each and every individual in the country. He always stressed on people earning livelihood in their natives and there by preventing them from migrating towards urban areas.

After he took over as PM, he has launched the same programs in the country which are now benefiting people in big way to get jobs and employment opportunities. With the intention of making youngsters Job givers from job seekers, he launched Mudra Yojana, Start Up India programs to encourage more entrepreneurship attitude in the minds of people. After 4 years, proudly we can say that Mudra Yojana alone has given loan to over 8 crore people across the country who are now earning their livelihood.

Now, the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) which is the flagship program of Narendra Modi which was launched to promote job creation has gained massive boost in recent times.

While about 6,600 establishments were covered under the scheme at July-end 2017, the number has since shot up to the current strength of over a lakh. The scheme’s beneficiaries were just over 3 lakh one year after its launch, but by March 2018 there was a tenfold jump and the latest figure is 85 lakh reported Financial Times.

Under PMRPY, the government bears the entire employers’ entire contribution (12% of basic pay) towards employees’ provident fund (EPF) for workers earning less than Rs 15,000/month during the first three years of employment. Clearly, the scheme gained considerable traction since the Budget 2018-19 which increased the government’s EPF contribution to 12% from 8.33% earlier and extended the scheme to all sectors. The textile sector had availed the 12% scheme (Pradhan Mantri Paridhan Rozgar Protsahan Yojana) even earlier but for other sectors, the government contribution was capped at 8.33%.

“The successs of PMRPY schemes lies in its ability to move out of informal work to formal work by providing them with the much-needed social security safety net. India does not have a job problem, it has a wage problem. Everyone who wants a job, has a job, they just do not have the wage they aspire for. The nudge in the direction of formalisation of the workforce enables the shift in the right direction,” said Rituparna Chakraborty, executive vice-president and co-founder, Teamlease Services.

With the way, the job promotion schemes are working, surely we can see better employment opportunities in the country in next 2-3 years with more entrepreneurs jumping into market.

Power Punch