Union Finance and Corporate Affairs Minister Nirmala Sitharaman presented the Union Budget for 2019-20 in the Lok Sabha today. In the meantime, he said, Standup India is being expanded to 2025. The Finance Minister said that Standup India has benefited a lot. Thousands of entrepreneurs from women and STs in the country have emerged, most of whom were given capital under the Standup India Scheme to build businesses and industries.

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Under the scheme, Sitharaman said that banks will provide demand-based financial support, including the purchase of shale cleaning machines and robots. He further said that the government is working on a set of four labor laws in place of several labor laws, which will simplify the process of registration and filing of returns. One crore youth will be enabled through the Tri Skill Development Scheme. At the same time, the government will focus on the skills needed abroad, including language training, to prepare the youth to get jobs abroad. In addition, Artificial Intelligence (AI), Computer Parts, Data 3D Printing, Virtual Reality and Robot Science will be promoted.

Stating your information, Nirmala Sitharaman said that for pension schemes under the Prime Minister's Employment Incentive Scheme, for both the Employees' Provident Fund and the Employees' Pension Scheme in all sectors, the government's contribution has increased from 8 per cent in 2016-17 to 12 per cent on 01.04.2018. . As a result of this move, about 88 million people benefited in FY 2018-19. As of 31-03-2019, a total of 1,18,05,000 individuals and 1,45,512 entities have benefited under the scheme.

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