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| ELI Scheme will be Game-Changer for Youth Employment & Economic Growth in country: Kavinder | | |  Early Times Report
JAMMU, July 2: Senior BJP leader and former Deputy Chief Minister Kavinder Gupta said that the approval of the Employment Linked Incentive (ELI) Scheme by the Union Cabinet will prove to be a transformative step towards large-scale job creation and formalization of the workforce, especially among the youth of the country.
Speaking at the meeting held here today, the BJP stalwart said that under the visionary leadership of Prime Minister Narendra Modi, the central government has taken a historic step with an outlay of Rs. 99,446 crore to support the creation of over 3.5 crore jobs across the country over the next two years. He said that Jammu and Kashmir, like other states, will benefit immensely from this scheme as it will provide opportunities to thousands of first-time job seekers and bring more youth into the formal economy.
The scheme has two components - one aimed at incentivizing first-time employees and the other focused on providing incentives to employers for generating and sustaining additional employment, particularly in the manufacturing sector.
Kavinder explained that first-time employees with salaries up to Rs 1 lakh will receive one month's wage (up to Rs 15,000) in two installments after completing 6 and 12 months of service, along with a financial literacy programme. A part of this incentive will be saved in a deposit account to encourage the habit of saving among youth.
The senior BJP leader said that the scheme is part of the broader employment and skilling package announced in the Union Budget 2024-25, aimed at empowering 4.1 crore youth with a total allocation of Rs 2 lakh crore.
He added that this scheme is not only about job creation but also about formalizing the workforce by bringing more workers under social security coverage. The use of Direct Benefit Transfer (DBT) through Aadhaar-linked accounts will ensure transparency and timely delivery of benefits.
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