CII hopes the budget will provide additional incentive rates in PLI programs to boost job creation.
New Delhi:
Industry body Confederation of Indian Industry (CII) has called for additional incentive rates to be included in manufacturing linkage incentive (PLI) schemes based on the number of jobs created, in the bank. upcoming union book.
It has suggested that employment-intensive sectors such as leather and food processing could be offered an incentive scheme to attract investment and create jobs.
“With the mandatory requirement to support jobs and create new jobs as the country recovers from the pandemic, CII proposes that the budget should have a job creation component to encourage.
CII has also recommended that more employment-intensive sectors targeted by PLI programs will greatly encourage investment in these sectors,” said CII Director General Chandrajit Banerjee.
Incentives could be based on the proposed number of jobs created in the project, giving a higher share of job creation under PLI programs, the CII said.
In addition to the jobs PLI plan, the CII has outlined a range of measures that could be implemented in the upcoming Budget to give jobs more traction as the impact of the pandemic unfolds across income classes. .
To provide relief to workers affected by the pandemic in rural areas, the council recommended that funding for MGNREGA be significantly increased to support the rural poor, which would also encourage consumption growth.
It also suggests that Section 80JJAA of the Income Tax Act which provides benefits to new workers earning below the salary threshold of Rs 25,000 per month should raise the limit to encourage higher skilled job creation.
Furthermore, the CII states that ‘on the job’ training should be extended to all sectors with industry associations as third-party bodies to expand apprenticeships.
To ease the compliance burden on MSMEs in recruiting apprentices, the organization said a fund could be established to build a real-time information system as a platform to close the information gap. communication between workers looking for work and MSMEs looking for workers.
