Key Points
Budget Expectations: Following the success of production-linked incentive (PLI) schemes, the government needs to prepare the ground for employment-linked incentive schemes in the upcoming interim budget to spur employment generation and drive more people towards formalisation, said experts...
Employment-linked incentives can be instrumental in encouraging micro, small and medium enterprises and developing sectors that have the potential to create a large number of jobs," said R Mukundan, chairman of the CII National Committee on Industrial Relations...
Experts said besides focusing on PLI, there is a need for tax breaks or subsidies for small and medium-sized enterprises (SMEs) for job creation...
"Targeted incentives such as tax breaks or subsidies for SMEs that hire workers from marginalised communities can address social inequality while simultaneously boosting job creation across sectors," said Suchita Dutta, executive director, Indian Staffing Federation...
More GIFTsExperts also indicated that there is a need for more special economic zones (SEZs) like Gujarat International Finance Tec-City (GIFT) and lowering import duties on certain items which can also help labour-intensive sectors...
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