Usher in competition between EPF and NPS to boost formal job creation

The government needs to introduce competition between EPFO and NPS, and between ESIC and health insurance companies, while making contributions voluntary for low-paid workers

Let’s begin with my favourite episode from the 1980s British satire series Yes Minister, featuring senior bureaucrat Sir Humphrey and his boss, Cabinet minister Jim Hacker. In a famous scene, Sir Humphrey justifies the existence of a 

hospital with no patients but 500 administrative staff:
 

Jim Hacker: “A hospital without patients? What’s the point of that?”
 

Sir Humphrey: “It’s a perfectly good hospital, Minister. It has excellent administration and an efficient staff.”
 

Jim Hacker: “But no patients!”
 

Sir Humphrey: “Patients are an unnecessary inconvenience for the staff.”
 

Jim Hacker: “Isn’t the purpose of a hospital to have patients?”