Context: The Union Cabinet has given its approval for Atmanirbhar Bharat Rojgar Yojana (ABRY) to boost employment in formal sector and incentivize creation of new employment opportunities during the Covid recovery phase under Atmanirbhar Bharat Package 3.0.
About the Atmanirbhar Bharat Rojgar Yojana (ABRY)

• Government of India will provide subsidy for two years in respect of new employees engaged on or after 1st October, 2020 and up to 30th June, 2021.

The salient features of the Scheme are as under

• Establishments employing up to 1000 employees: Employee’s contributions (12% of Wages) & Employer’s contributions (12% of wages), totalling 24% of wages contribution by the government.
• Establishments employing more than 1000 employees: Only Employee’s EPF contributions (12% of EPF wages) by the government.
• EPFO (Employee Provident Fund Organisation) will credit the contribution in Aadhaar seeded account of members in an electronic manner
• EPFO shall develop software and a procedure which is transparent and accountable for the scheme.
• EPFO shall work out modality to ensure that there is no overlapping of benefits provided under ABRY with any other scheme implemented by EPFO.

Emergency Credit Line Guarantee Scheme

• Rs. 3 lakh crore existing Emergency Credit Line Guarantee Scheme (ECLGS 1.0) is extended till 31st March 2021 with a launch of ECLGS 2.0.

ECLGS 2.0

• To provide much-needed relief to stressed sectors by helping entities sustain employment and meet liabilities.
• It will also benefit the MSME sector which provides goods and services to eligible entities.

Atmanirbhar Manufacturing Production-linked incentives

• Rs 1.46 lakh crore boost for Atmanirbhar Manufacturing Production-linked incentives for 10 Champion Sectors to boost the competitiveness of domestic manufacturing.
• This is expected to give a significant boost to Economic Growth and domestic employment.

Construction Sector

• Rs 18,000 crores additional outlay for PM Awaas Yojana (PMAY) –Urban
• Support for Construction & Infrastructure by Relaxation of Earnest Money Deposit (EMD) & Performance Security on Government Tenders.
• Demand booster for Residential Real Estate Income Tax relief for Developers & Home Buyers.
• This measure will reduce hardships faced by both homebuyers and developers and help in clearing the unsold inventory.

Other Sectors

• Support for Agriculture by providing Rs 65,000 crores for subsidised Fertilisers.
• Boost for Rural Employment by enhanced outlays under PM Garib Kalyan Rozgar Yojana (PMGKRY).
• PMGKRY effectively dovetails various schemes including MGNREGA, PMGSY etc.
• This will accelerate the growth of the rural economy.
• Boost for Project Exports by Rs 3000 crore to EXIM bank for Lines of Credit.
• It will promote Indian export.
• Line of Credit (LoC) will be used as assistance to developing countries under IDEAS scheme.
• Supported projects under this scheme cover railways, power, transmission, road and transport, auto and auto components, sugar projects, etc.

Rs. 10,200 crores will be provided towards Capital and industrial expenditure

• Domestic defence equipment
• Industrial incentives
• Industrial infrastructure
• Green energy

Rs. 900 crores provided for Covid Suraksha Mission for Research and Development of Indian Covid Vaccine to Department of Biotechnology.