Which ministry started the Pradhan Mantri Rojgar Protsahan Yojana?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Ministry of Labour and Employment.
The Ministry of Labour and Employment launched the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) on August 7, 2016. The scheme's primary objective was to incentivize employers to create new jobs by bearing the employer's full contribution (12%) towards the Employees' Provident Fund (EPF) and Employees' Pension Scheme (EPS) for new employees. This aimed to formalize the workforce, provide social security benefits to workers earning up to ₹15,000 per month, and boost employment generation in the organized sector. The scheme encouraged businesses to expand their workforce while reducing their financial burden.