PM EMPLOYMENT SCHEME ALLOCATION MAY BE HALVED FinMin had informed labour min of reduction in budgetary support to PMRPY to Rs. 5 billion in RE The finance ministry may likely trim budgetary support towards the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), a flagship programme for incentivising job creation, substantially for the present fiscal year in the Union Budget to be presented on Thursday. Government sources said the finance ministry had informed the labour ministry of a reduction in the budgetary support towards the PMRPY to Rs. 5 billion in the Revised Estimates, from Rs. 10 billion allocated in the Union Budget 2017-18. Finance Minister Arun Jaitley had announced the PMRPY in the Union Budget 2016-17 to incentivise employers for boosting employment generation. In this initiative, the government pays the employers’ contribution of 8.33 per cent of wages under the Employees’ Pension Scheme (EPS) in the first three years of hiring a new employee. The EPS is adminis