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ICICI Securities Report
Two years of provident fund subsidy by the central government under the proposed Atmanirbhar Bharat Rozgar Yojana scheme is loosely identical to the then Pradhan Mantri Rojgar Protsahan Yojana.
Before its sunset, PMRPY was touted as a big success and widely credited to have led to job creation and/or formalisation (approximately 10 million Employees Provident Fund Organization payroll additions).
Post Covid-19, we see re-introduction of this scheme as a welcome move giving impetus to new job creation and/or formalisation over the next two years.
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