Cabinet Approves ₹1 Lakh Crore Employment-Linked Scheme
Union Cabinet approved a major employment-linked incentive (ELI) scheme worth ₹1 lakh crore to create over 3.5 crore jobs across India. The scheme, part of the Union Budget 2024–25, aims to provide financial support to employers and social security to workers, especially in the manufacturing sector.
The new ELI scheme will benefit jobs created between August 1, 2025, and July 31, 2027. Out of the targeted 3.5 crore new jobs, around 1.92 crore will be for first-time workers. The scheme focuses on giving social security and creating more formal jobs in all sectors, with extra support for the manufacturing industry.
Employers will receive up to ₹3,000 per new employee per month for a period of two years, provided the job lasts at least six months. For the manufacturing sector, incentives can continue for another two years. New employees will also get one month’s wage (up to ₹15,000) as part of the benefits.
The scheme was announced by Union Minister Ashwini Vaishnaw during a Cabinet briefing in New Delhi. He stated that the ELI scheme is one of five initiatives under the Prime Minister’s employment and skill development package, with a total budget of ₹2 lakh crore aimed at benefiting over 4 crore youth.
This programme is designed to formalize employment, increase social security coverage, and reduce the unemployment rate among India’s youth.
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