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Key points generated by AI, verified by newsroom<\/p>\n
New Delhi: Union Minister for Labour and Employment and Youth Affairs and Sports Mansukh Mandaviya on Monday announced sweeping reforms aimed at simplifying provident fund (PF) withdrawals, including enabling access through ATMs and UPI platforms, while outlining the government\u2019s broader roadmap for job creation, self-employment, and India\u2019s long-term development goals at the ABP Network\u2019s India @2047: Entrepreneurship Conclave.<\/p>\n
PF Access To Be Simplified Via ATM, UPI <\/p>\n
Addressing the conclave, Mandaviya said the government is working to allow PF subscribers to withdraw their money easily through ATMs and UPI, underlining that the funds belong to the worker.<\/p>\n
“PF money is yours and I am trying to bring ease to the process,” he said, adding that preparations are underway to link PF withdrawals with digital platforms.<\/p>\n
He noted that up to 75 per cent of PF can already be withdrawn without citing any reason, and emphasised the need to make the system more worker-friendly.\u00a0<\/p>\n
Highlighting gaps in the current framework, Mandaviya pointed out that workers who lose their jobs after seven months of employment face difficulties, while pension eligibility requires 10 years of continuous service.<\/p>\n
The primary objective, he said, is to simplify and expedite the PF withdrawal process, moving from the current multi-day processing time. This is part of the broader “Ease of Living” and digitization efforts under the Ministry of Labour & Employment.<\/p>\n
The PF account will be linked to the member’s bank account (which is already linked via Aadhaar and UAN). This integration will allow a “PF functionality” to be added to debit cards and ATMs, he added.<\/p>\n
The minimum balance requirement therefore becomes, 25 per cent of their total corpus to ensure long-term retirement security. Up to 75 per cent of the eligible balance can be withdrawn under specific conditions.<\/p>\n
Push For Self-Employment, Job Creation <\/p>\n
Stressing the importance of entrepreneurship, Mandaviya urged India\u2019s youth to focus on self-employment and job creation rather than job-seeking alone.<\/p>\n
\u201cWe need to create self-employment,\u201d he said, calling upon young Indians to build ventures that generate employment for others. He said the government aims to create more than one crore jobs every year, bringing the country\u2019s youth to the forefront of economic growth.<\/p>\n
Referring to the Viksit Bharat Rozgar Yojana, Mandaviya said 3.5 crore people are expected to gain employment under the scheme, and underscored the role of media organisations like ABP with local reach in spreading awareness about such initiatives.<\/p>\n
Infrastructure, Governance And India\u2019s Growth Story <\/p>\n
Mandaviya said India\u2019s development trajectory under Prime Minister Narendra Modi\u2019s leadership reflects a structured roadmap, backed by implementation and data-driven governance. He cited NITI Aayog\u2019s work on strengthening the employer\u2013employee ecosystem over the past decade.<\/p>\n
He also highlighted India\u2019s Covid-19 management, noting that deaths per million population post-pandemic were among the lowest globally, and recalled that at the World Economic Forum, Bill Gates had congratulated India for its handling of the crisis.<\/p>\n
Sports, Olympics Ambitions And Governance Reforms <\/p>\n
Speaking as Sports Minister, Mandaviya reiterated India\u2019s ambition to emerge as a leading international sporting destination, linking the 2030 Commonwealth Games and the 2036 Olympics bid as part of a broader progression.<\/p>\n
\u201cHosting the Olympics is a big achievement,\u201d he said, adding that such events assess a country\u2019s management capacity, tourism strength, sports credibility, and ecosystem readiness.<\/p>\n
He rejected allegations that sports infrastructure investments are Gujarat-centric, saying infrastructure upgrades should be welcomed wherever they occur. Mandaviya said a data-driven approach is being adopted to bridge viability gaps in regions where specific sports lack infrastructure, while existing facilities will be strengthened.<\/p>\n
Athlete-Centric Reforms And Gender Equality <\/p>\n
Mandaviya said the government has moved away from federation-centric governance towards an athlete-centric sports system, with the introduction of a sports governance bill in the second phase of the national sports policy.<\/p>\n
He said women\u2019s representation in sports federations has now been made compulsory, and disputes that earlier dragged on in courts will instead be handled by dedicated tribunals to prevent athletes from suffering.<\/p>\n
Referring to the Board of Control for Cricket in India\u2019s decision to ensure pay parity for women cricketers, Mandaviya questioned why such steps were not taken earlier.<\/p>\n
\u201cThere should be equal participation and equal opportunities for both men and women in the nation\u2019s development,\u201d he said, adding that unequal pay has no logical basis.<\/p>\n
International Sports And Diplomatic Balance <\/p>\n
On India-Pakistan sporting ties, Mandaviya reiterated that there would be no bilateral tournaments between the two countries, while clarifying that India, as a responsible member of international sporting bodies, cannot deny participation or visas during global events governed by Olympic charters.<\/p>\n
Call For Responsibility And National Duty <\/p>\n
Concluding his address, Mandaviya said it was his responsibility to ensure that citizens are able to fulfil their duties towards the nation, and credited platforms like ABP Network for enabling direct communication with the public.<\/p>\n
He also welcomed BJP\u2019s newly appointed national president Nitin Navin, calling it a significant moment for Bihar and the country.<\/p>\n","protected":false},"excerpt":{"rendered":"Show Quick Read Key points generated by AI, verified by newsroom New Delhi: Union Minister for Labour and…\n","protected":false},"author":2,"featured_media":185713,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,23595,266,267,107477,107476,28543],"class_list":{"0":"post-185712","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-il","11":"tag-israel","12":"tag-mansukh-mandaviya","13":"tag-personal-finance","14":"tag-personalfinance","15":"tag-pf-atm-upi-access","16":"tag-pf-with-drawals-to-become-easy","17":"tag-pf-withdrawals"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/185712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=185712"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/185712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/185713"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=185712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=185712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=185712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}