Page 26 - NIS English December16-31

Cover Story
Economy

Boom in EPFO enrolment

Increase in the number of salaried Lowest ever trade deficit
120000
people 10,05,852
100000 August 2020
7,48,784
800000
July 2020
600000 0.6
3,85,344 -15.3% -10.2% -10 -6.8 -3.6 June -4.8 -6.8 -2.7 -5.12
July
Feb
Jan
March
April May
Aug Sept
400000 June 2020 Oct
200000
-1,04,608 figure
0 April 2020 in %
-35,366
-200000 May 2020
The number of new nominees in the EPFO during AatmaNirbhar Bharat Campaign has
August stood at 10.05 Lakh. On an average, new encouraged domestic production. Exports
accounts of 7 Lakh employees are opened every
month of the year 2020. Increased contribution to have increased faster than imports leading
EPFO means companies are hiring new people to lessening of trade deficits

India's GDP growth rate will again be in positive territory from the
third to fourth quarter due to normal industrial activity and positive
growth in public utility sectors like agriculture, electricity

True to his style, the Prime Minister took all announced a five-tranche economic package. It
stakeholders in confidence by having virtual was a strategic decision by the Government.
meetings with them. Be it with pharmaceutical On the first day, the Finance Minister stressed
companies, doctors, social organizations, upon reforms in MSME sector to strengthen it
agriculture, energy, education, IT and people from through streamlining production and supplies.
all other sectors, the Prime Minister reiterated his On second day, she announced packages for
commitment on national security and other crucial farmers, labourers, street vendors with a focus on
issues. Chief Ministers of various states were employment generation and housing. On third day,
taken into confidence. Not only the efforts brought the concern for agriculture production and animal
assistance to the needy and poor but it encouraged husbandary sector was addressed. On the fourth
enterprises for production. It also resulted in major day, stress was on improving upon infrastructure,
structural reforms. whereas on the last day, reforms announced for
Keeping the economy as a top priority, the improving upon rural and health infrastructure. It
Prime Minister aimed for Self-Reliance through indicates that the Prime Minister has prepared a
five mantras – intent, inclusion, investment, roadmap for the vision of making an AatmaNirbhar
infrastructure and innovation. For this, the Bharat.These reforms were not initiated in haste.
Government laid equal emphasis on "Land, Labor, It was a well thought out strategy with a long-term
Liquidity and Law". planning.
After the announcement by the Prime Minister, Successful implementation through schemes
Union Finance Minister Nirmala Sitharaman like foodgrains for poor, money transfer in Jan Dhan
24 New India Samachar