The Ministry of Labour and Employment on Wednesday announced a scheme to financially support those who lost their jobs and were covered under the Employees' State Insurance Act, 1948. Somesh Jha explains the key features.
What are the key features of the Atal Bimit Vyakti Kalyan Yojana (ABVKY)?
The ABVKY is a scheme approved by the Employees’ State Insurance Corporation (ESIC) that aims to benefit its subscribers, who are mainly formal sector workers who have become unemployed for whatever reason, by providing cash through bank account transfer. At present, the government of India does not provide any unemployment allowance.
What are the key features of the Atal Bimit Vyakti Kalyan Yojana (ABVKY)?
The ABVKY is a scheme approved by the Employees’ State Insurance Corporation (ESIC) that aims to benefit its subscribers, who are mainly formal sector workers who have become unemployed for whatever reason, by providing cash through bank account transfer. At present, the government of India does not provide any unemployment allowance.