Blitz Bureau
NEW DELHI: Union Minister Ashwini Vaishnaw on July 1 said that the Cabinet has approved Employment Linked Incentive (ELI) Scheme to boost job creation, incentivize first-time employees and strengthen social security for the workforce in the country.With an outlay of Rs. 99446 crore, the ELI Scheme will support creation of over 3.5 crore jobs, Vaishnaw said.
Giving details on the Employment Linked Incentive Scheme approved by the Union Cabinet, Vaishnaw said, “The focus of the Employment Linked Incentive Scheme will be on the manufacturing sector. It has two parts; part one is for first timers and part two for support to sustained employment. Under the Scheme, while the first-time employees will get one month’s wage (up to Rs 15,000/-the employers will be given incentives for a period to two years for generating additional employment, with extended benefits for another two years for the manufacturing sector.
The ELI Scheme was announced in the Union Budget 2024-25 as part of PM Modi’s package of five schemes to facilitate employment, skilling and other opportunities for 4.1 crore youth with a total budget outlay of Rs 2 Lakh crore. With an outlay of Rs 99,446 crore, the ELI Scheme aims to incentivize the creation of more than 3.5 Crore jobs in the country, over a period of 2 years.
