• Source:JND
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Modi Cabinet Decisions: The Modi Cabinet on Tuesday approved four key projects, including Rs 1.07 lakh crore employment-linked incentive scheme. Union Minister Ashwini Vaishnaw, while addressing a press conference, said the government approved an employment linked incentive scheme with an outlay of Rs 1.07 lakh crore to support job generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector.

"Union Cabinet approves Employment Linked Incentive Scheme - Rs 1.07 lakh Crores, Research Development and Innovation (RDI) scheme - Rs 1 lakh crores, National Sports Policy 2025 and Four-laning of Paramakudi-Ramanathapuram national highway - Rs 1,853 crores," he added.

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The decision was taken at a meeting of the Union Cabinet, chaired by Prime Minister Narendra Modi, the Information And Broadcasting Minister said.

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Scheme Aims To Create 3.5 Crore Jobs

The scheme aims to incentivise the creation of more than 3.5 crore jobs in the country over two years. Besides, the scheme will incentivise first-time employees. An incentive of up to Rs 3,000 per month for two years towards each additional first-time employee.

Employers will get incentives with respect to employees with salaries up to Rs 1 lakh. For the manufacturing sector, incentives to employers will be extended to the third and fourth years also. 

(With PTI inputs)