INSUBCONTINENT EXCLUSIVE:
CII hopes budget will offer additional incentive rates in PLI schemes to boost job creationNew Delhi: Industry body Confederation of Indian
Industry (CII) has called for additional incentive rates to be included in the production linked incentive (PLI) schemes based on the number
of jobs created, in the forthcoming union budget.It has suggested that employment-intensive sectors like leather and food processing could
be provided an incentive scheme to attract investments and create employment."With the imperative to support jobs and create new employment
as the country recovers from the pandemic, CII suggests that the budget should have a job-creation component to the incentive.CII has also
in these sectors," CII Director General Chandrajit Banerjee said.The incentives could be based on the proposed number of jobs being created
in the project, giving higher weightage to job creation in the PLI schemes, said CII.Apart from the PLI scheme for employment, CII brought
out a range of measures that could be taken up in the forthcoming Budget that would help jobs to gain traction as the pandemic impact is
being felt across income classes.To provide relief to workers hit by the pandemic in the rural areas, the chamber recommended that the
outlay for MGNREGA be enhanced considerably to support the rural poor, which would also encourage consumption growth.It also suggested that
Section 80JJAA of the Income Tax Act which provides for benefits for new workers with less than a threshold income of wages of Rs 25,000 per
month should enhance the limit to encourage higher skilled jobs creation.Moreover, CII stated that 'on the job' training should be extended
to all sectors with industry associations as third-party agencies for scaling up apprenticeship.To reduce the compliance burden for MSMEs in
hiring apprentices, it said a fund could be set up to build a real-time information system as a platform to bridge information gaps between
workers looking for work and MSMEs looking for workers.
