Scheme for formal employment generation falls short of target

economictimes.indiatimes.com:

Aatmanirbhar Bharat Rojgar Yojana (ABRY), launched in 2020 at the time of the pandemic. As per latest government data, enrolments under ABRY stood at 6.04 million as on July 22, 2023, well short of the revised target of generating 7.18 million jobs under the scheme but higher than its initial target of 5.85 million. Disbursements under the scheme are way behind target.

The Centre has so far spent ₹ 9,663.82 crore under the scheme, which is only 42.3% of the initial targeted expenditure of ₹22,810 crore for the entire scheme period, latest data showed. Under the scheme — launched in December 2020 as part of Aatmanirbhar Bharat 3.0 package to boost the economy and increase employment generation post Covid-19 disruptions — new employees drawing less than ₹ 15,000 a month in companies registered with the Employees' Provident Fund Organisation (EPFO) need not contribute for their PF and pension for two years. Instead, the Centre reimburses provident fund and pension contribution of either both the employee and employer (24% of wages).

or only the employee (12% of wages) in case the establishment has over 1,000 workers. The scheme, being implemented through EPFO, covers employees hired till March 2022, and those who lost their job between March 1, 2020, and September 30, 2020, and are drawing less than ₹ 15,000 a month. As per government data, the number of beneficiaries under the scheme stood at 1.29 million in 2020-21, 4.19 million in 2021-22, about 540,000 in 2022-22 and 9,082 till July 18 in 2023-24.