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LIVE: Cabinet approves Rs 22,810-cr outlay for 'Atmanirbhar Bharat' scheme

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BS Web Team  | New Delhi 

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Communications and IT minister Ravi Shankar Prasad (right) at a press conference with Minister of Housing and Urban Affairs Hardeep Singh Puri
FILE PHOTO: Communications and IT minister Ravi Shankar Prasad (right) at a press conference with Minister of Housing and Urban Affairs Hardeep Singh Puri
The Union Cabinet on Wednesday approved Rs 22,810 crore outlay for a new employment scheme that aims at encouraging businesses to do fresh hiring. Under the Atmanirbhar Bharat Rojgar Yojana, the government will for two years provide employee and employer contribution to the retirement fund for new hires by businesses and entities, Labour Minister Santosh Gangwar said. The scheme would till 2023 entail an outgo of Rs 22,810 crore and would benefit around 58.5 lakh employees.

The Justice Ashok Bhushan-led Bench on Wednesday adjourned hearing to Monday in the petitions in loan moratorium case. Solicitor General Tushar Mehta told the top court on Tuesday that a complete waiver of interest during the six-month loan period had a cost associated with it. "If we waive off the interest, there is a cost associated with it. Either the banks take it or the government. The government cannot and depositors cannot," the Solicitor General said.

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