FM Sitharaman Unveils 3 New Schemes to Boost Employment

23 Jul 2024 , 11:26 AM

Finance Minister Nirmala Sitharaman has introduced three employment-linked incentive schemes aimed at boosting job creation and supporting employers:

1. One Month’s Wage for Freshers: This scheme offers an incentive equivalent to one month’s wage for newly hired employees, encouraging companies to bring fresh talent into the workforce.
2. Job Creation in Manufacturing: Focused on the manufacturing sector, this scheme aims to stimulate job creation by providing targeted incentives to businesses that expand their workforce in this critical area.
3. Support to Employers: This initiative provides additional support to employers to encourage them to hire more workers. It includes various measures such as tax breaks, subsidies, or grants to help offset the costs associated with new hires.