Staff Reporter / New Delhi
The Union Cabinet today approved around one lakh crore rupees employment-linked incentive scheme to boost employment generation in the country. The scheme is aimed at incentivising the creation of over 3.5 Crore jobs in the country over a period of two years. Out of these, 1.92 Crore beneficiaries will be first timers, entering the workforce.
The benefits of the scheme will be applicable to jobs created between 01st August 2025 and 31st July, 2027. The scheme also aims to generate employment and provide social security across all sectors, with special focus on the manufacturing sector.
Briefing media about the Cabinet decisions in New Delhi today, Information and Broadcasting Minister Ashwini Vaishnaw said, first-time employees will get one month’s wage up to 15 thousand rupees under the scheme. He said the employers will be given incentives for a period of up to two years for generating additional employment, with extended benefits for another two years for the manufacturing sector.
Information and Broadcasting Minister Ashwini Vaishnaw said, the government has decided to incentivise employers, up to three thousand per month for two years, for each additional employee with sustained employment for at least six months.
Union Minister Ashwini Vaishnaw said, an employment-linked incentive scheme was announced in the Union Budget 2024-25 as part of the Prime Minister’s package of five schemes to facilitate employment, skilling and other opportunities for over four crore youth with a total budget outlay of two lakh crore rupees.
With the ELI Scheme, the government intends to catalyse job creation in all sectors, particularly in the manufacturing sector, besides incentivising youth joining the workforce for the first time. An important outcome of the Scheme will also be formalisation of the country’s workforce by extending social security coverage for crores of young men and women.
Mr. Vaishnaw further informed that the Union Cabinet has also cleared the Research Development and Innovation Scheme with a corpus of one lakh crore rupees. The scheme aims to provide long-term financing or refinancing to spur private sector investment to bolster the country’s research and innovation ecosystem.
The Minister said that the scheme has been designed to overcome the constraints and challenges in funding of private sector and seeks to provide growth and risk capital to sunrise and strategic sectors to facilitate innovation, promote adoption of technology and enhance competitiveness. He said, the Governing Board of Anusandhan National Research Foundation, chaired by the Prime Minister, will provide overarching strategic direction to the Research Development and Innovation Scheme.
Mr. Vaishnaw added that the National Sports Policy 2025 has also been approved to transform the country’s sporting landscape and empower citizens with sporting activities. He said, with the implementation of the policy, the goal has been set to become the top five sporting nations in the world.
Mr. Vaishnaw highlighted that the policy aimed at strengthening sports programmes from the grassroots to elite levels, with early identification and nurturing of talent. He also said it will seek to promote the establishment of competitive leagues and competitions, and develop sports infrastructure in both rural and urban areas. He said, building world-class systems for training, coaching, and holistic athlete support is one of the key objectives of this policy. Mr. Vaishnaw noted that this policy will also help in promoting sports tourism and attracting major international events in the country.
During the briefing, Mr. Vaishnaw stated that the Union Cabinet has also given its nod for the construction of four lane Paramakudi-Ramanathapuram section in Tamil Nadu with a cost of one thousand 853 crore rupees. The total length of the project will be 46.7 kilometers and it will provide seamless connectivity by strengthening connectivity between major religious and economic centres, boosting tourism to Rameshwaram and Dhanushkodi.
