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.
