3.5 Crore Jobs and Employment Opportunities in Two Years Under ₹1.07 Lakh Crore ELI Scheme

The Union Cabinet has approved the Employment Linked Incentive (ELI) Scheme, aimed at generating 3.5 crore jobs and employment opportunities across India over the next two years. This landmark decision follows the budget announcement by Prime Minister Narendra Modi, focusing on boosting employment and supporting key economic sectors.

 

The scheme, with an outlay of ₹1.07 lakh crore, will target industries with high employment potential, offering incentives to employers for creating additional jobs. For the first time, incentives will be provided for hiring workers who have been unemployed for more than two years, in addition to fresh recruits. Employers will receive up to ₹15,000 per worker annually as part of the program.

 

According to official estimates, the scheme will directly benefit 1.92 crore workers and indirectly generate opportunities for an additional 1.5 crore individuals. The government will also launch a special employment fund to support the initiative, with funds earmarked for skill development and sector-specific training.

 

The ELI Scheme is expected to particularly benefit the manufacturing, construction, textiles, tourism, and technology sectors. Special emphasis will be placed on supporting micro, small, and medium enterprises (MSMEs), which are among the largest employment generators in the country.

 

The program will run from 2024 to 2027, with periodic reviews to assess performance and make necessary adjustments. The government will also partner with state governments, industry associations, and private sector employers to ensure effective implementation.

 

Officials have stated that the scheme aligns with the government’s vision of inclusive economic growth, aiming to improve livelihoods, increase workforce participation, and reduce unemployment rates nationwide.