Which of the following options best describes the objective of Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme 2016?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. To encourage employers to create new jobs.
The objective of the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), launched in 2016, is to encourage employers to create new jobs and provide employment opportunities for the youth. The scheme focuses on incentivizing employers to hire more workers by providing them with financial support. Under PMRPY, the government pays the employees' pension contributions (EPF) for new employees for the first three years, which helps reduce the financial burden on employers.
The scheme specifically targets new employees who were not previously employed in the formal sector and aims to boost the creation of jobs in industries and sectors where employment generation potential is high. Additionally, it benefits workers from marginalized groups, such as women, youth, and economically disadvantaged communities, by promoting formal employment. Through this initiative, the government aims to reduce unemployment, encourage job creation, and improve the overall employment landscape in India.