Ministry of Labour and Employment Current Affairs - 2020

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Portal Santusht launched: To implement policies of Labour Ministry at grass root level

The Portal Santusht is an Implementation Monitoring Cell that was launched by the Ministry of Lobour and Employment in January 2020. The portal addresses delivery of public services, their transparency, accountability, schemes and policies at grass root level.

Highlights

The portal aims to address the speedy redressal of grievances of workers ans employers. It monitors services that are provided by the health insurance and EPFOs (Employment Provident Fund Organization). Also, it monitors the services provided by the ESICs (Employment State Insurance Corporation) to the formal sector workers.

ESIC

The ESIC is a statutory body administered by the Ministry of Labour and Employment. The Corporation can raise loans, acquire movable and immovable properties. It can also set up hospitals in collaboration with the state governments for the benefit of the employees. The ESIC is governed by the ESI (Employment State Insurance) Act.

EPFO

The EPFO is also a statutory body formed and operated under Employment Provident Fund and Miscellaneous Provisions act, 1952. It is also operated under Ministry of Labour and Employment.

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National Pension Scheme for traders: Not successful as expected

The National Pension Scheme for traders, Shopkeepers and Self-Employed persons, also called the Pradhan Mantri Laghu Vyapari Maan-dhan Yojana was launched in July 2019. It aimed at benefitting 3 crore small traders and shopkeepers

Highlights

The Government set a target of 50 lakh enrolment by the end of March 2020. However, only 25,000 persons have applied so far.

Among all states Uttar Pradesh has highest registrations with 6,765 persons. No one has so far registered in the scheme in the states of Mizoram and Lakshadweep.

About the scheme

The scheme is being implemented by Ministry of Labour and Employment. In order to enrol in the scheme, GSTIN is required only for those whose turnover is above Rs 40 lakhs. Also, the participant of the scheme should not be an income tax payer.

Concerns

Under the scheme the subscribers will receive monthly pension of Rs 3000 after the age of 60. The persons in the age of 18-40 years are eligible to apply to the scheme.

The beneficiaries of the scheme believe that the majority of the population start their pension plans between 40 and 55. The scheme excludes the age group between 40 and 55. Also, Rs 3000 being provided as premium after 30 years will hardly have value as money would have inflated by then.

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