ABRY Scheme: Govt gives Rs 10,000 crore to 60 lakh beneficiaries – Job & Career News

Under its employment promotion scheme Aatmanirbhar Bharat Rojgar Yojana (ABRY), the central government has disbursed over Rs 10,000 crore to more than 60 lakh beneficiaries through 1.52 lakh enterprises, Minister of State for Labor and Employment Rameshwar Teli told the Rajya Sabha on Thursday .

The initiative was launched in October 2020 to encourage employers to create new employment and restore employment lost during Covid-19. As of December 5, an amount of Rs 10,043.02 crore has been disbursed to 60.49 lakh beneficiaries. The scheme ensures the disbursement of benefits according to specific eligibility criteria, determined by the beneficiary institutions and employees on a monthly basis.

States like Tamil Nadu, Maharashtra and Uttar Pradesh have the maximum number of beneficiaries and institutions. Notably, the scheme provides benefits to 194 different sectors such as agriculture farms, automobile services, canteens, general insurance, marble mining, hospitals and animal feed industry among others.

What is Aatmanirbhar Bharat Rozgar Yojana (ABRY)?

The scheme is designed to stimulate the creation of new employment opportunities by extending financial support to employers of enterprises registered with the Employees’ Provident Fund Organization (EPFO).

The essence of the scheme lies in encouraging the employment of unemployed individuals, including those who lost their jobs due to Covid-19, by covering employee and employer contributions (24% of wages) for enterprises with up to 1,000 employees. For enterprises with over 1,000 employees, only employee EPF contributions (12% of wages) are covered in respect of new employees.

In August 2023, the government announced that ABRY has exceeded its initial employment generation goals, demonstrating its success in fostering job creation and recovery during the Covid-19 pandemic.

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The scheme, which remained open for enrollment till March 31, 2022, had set a target of benefiting about 7.18 million employees across India. As of 31 July 2023, the scheme has already achieved an enrollment of over 7.58 million new employees, surpassing the initial employment generation target.

As of August 2023, a total of 1,52,380 enterprises, employing 60,44,155 new employees and fulfilling all eligibility conditions, have availed benefits to the tune of Rs. 9,669.87 crore under the scheme.

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