“THE BURNING TALE”
The Reality of Atma Nirbhar Bharat Package
The package includes RBI and Pre- Tranche measures
It includes the liquidity of 8 lakh crores added by the measures of RBI in February, March and April and the 1.9 lakh crore Relief Package that was announced in March. So, the real amount of the Atma Nirbhar Package was half of what was claimed.
More than 95% of the firms ineligible for EPF Relief Measures due to the conditions laid by the government.
On 26th March 2020, the government announced that both the employer’s and employee’s contribution to the EPF would be paid by the government. This benefit would be provided to organizations that have up to 100 employees out of which 90% of them must be earning below Rs.15000/-. This condition has made almost all firms ineligible to avail the benefit.
A huge gap in figures quoted by the government.
The number of employees expected to benefit from the package reduced from previously quoted 79 lakhs to 72.22 lakhs, i.e. a fall of 10%, but the amount of benefit was reduced up to 48%. Such a gap in numbers raises questions about the ground reality of the relief package announced by the government.
Relief or Reforms?
In the second tranche of the Atma Nirbhar Package, the Finance Minister announced reforms in the labour code such as social security for unskilled and gig workers, reskilling fund for retrenched employees etc. The government has rebranded the pending reforms of over three years and marketed them as a part of the relief package. The government has either underestimated the nation’s intelligence or has forgotten that people need relief and not reforms at this time of crisis.
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