Employment sector will benefit from Modi government's new scheme
The Government of India has started a new scheme related to employment. It is considered very important in the field of employment. The people of the Indian industry have also appreciated the government to approve the challenge of pressure and timely Employment Linked Inspector (ELI) scheme to deal with the challenge of pressure.
Business veterans and policy experts believe that the scheme will change the entire landscape of employment, as it focuses on making the workforce formal, empowering job seekers and reducing the recruitment costs for employers, especially in Labor Instivate and Capital Constrand sector. Many have compared its potential impact to the production linked incentive (PLI) scheme, called it a “game-chain” for the growth of youth employment, regional development and MSME.
Youth will open the doors of the opportunity: CII's DG Banerjee
Earlier, the Union Cabinet on Tuesday approved the much awaited Employment Linked Insitive (ELI) scheme, which aims to create more than 3.5 crore jobs and promote formal employment with a outlay of Rs 1.07 lakh crore. This scheme will benefit the areas like cloth, tourism, manufacturing and construction.
On this decision, the Director General of the Confederation of India Industry (CII), Chandrajit Banerjee said, “ELI is an important step towards promoting employment and making the country's workforce formal. Gaves the right to promote decisively to the labor related areas. ” With a outlay of about Rs 99,446 crore, ELI will support the creation of more than 3.5 crore jobs.
Encouragement will be found in the field of employment generation: former secretary
On this decision, former Secretary of the Ministry of Labor and Employment Sumita Davra said that the scheme has been prepared after long discussion and debate with the industry, trade unions, more than 25 ministries of the Government of India, all the state governments and regional workshops.
He added, “PM Modi had earlier clearly stated that the plan should be simple and effective so that the real benefit of the scheme can reach the youth of the country, especially for the first time to the people who join the workforce, and it also acts as an incentive to create employment. This scheme is expected to have more than 3.5 crore jobs in the manufacturing sector.”
Youth will get special benefit: PHDCCI
IMFA Managing Director Subrakant Panda said, “The scheme will promote employment, especially in the manufacturing sector, adopting an innovative approach and also helps those who join the workforce for the first time with encouragement for employment. This will be a big change for labor related industries and MSMEs.”
Dr. Ranjit Mehta, CEO and General Secretary of PHD Chamber of Commerce and Industry (PHDCCI) said that the scheme has come at a time when India's youth population is at its peak. He said that this announcement of the government is very important, because India has the largest youth population in the world. We have its demographic dividend i.e. Demographic Dividant and due to such a scheme, there will definitely be a lot of employment for our youth population. Second, it will also encourage industries, especially MSME, who always lack capital. ”
Raghunandan Saraf, founder and CEO of Saraf Furniture, said, “The aim of this scheme is to actually provide more opportunities to employees who are constantly struggling to get jobs or get employment. So it is also going to promote the current employment market. It also helps in maintaining employees as employees. It will also reduce the rate of job. It will also increase the saving of the employees.”
This scheme will be applicable from 1 August 2025
Under this scheme, for the first time, employees hired will be given one month's salary (up to Rs 15,000). At the same time, employers will be encouraged for a period of 2 years for additional employment generation. Not only this, the profit for the manufacturing sector will be extended for 2 years.
The aim of the ELI scheme is to encourage the creation of more than 3.5 crore jobs in the country during a period of 2 years. Of these, 1.92 crore beneficiaries will be joining the workforce for the first time. The benefit of this scheme will be applicable to the jobs created between August 1, 2025 to 31 July 2027 next month.
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