New Delhi: The Indian youth continue to be PM Narendra Modi's die-hard fans. They have given PM their support, now it's time to return the favour.The return gift will be in form of job opportunities, which the youth desperately need. In NDA government's third budget, the focus will be on quality job creation.
Modi government plans big sops for the manufacturing units that offer job opportunities. the aim is to shed the tag of 'jobless growth'. Despite fears of slowdown as a result of note ban, the government is confident of growth after witnessing buoyancy in tax collections. In this backdrop, government has decided to boost manufacturing in the labour-intensive sectors.
Government plans to focus on clothing, leather manufacturing, food processing and electronic assembly to create quality jobs.
Successive governments have faced flak for jobless growth. Lack of jobs is compounded by lack of skill. To overcome this problem, government is targetting areas where basic skills enable a person to get a job. This strategy will also benefit workers with limited skills, thus allowing those in agriculture and informal sector manufacturing and services to shift to the formal sector. This will help improve government's image in rural areas.
It is expected that coastal 'employment' zones (CEZ) will be announced in Budget. This, as the government plans to link incentives for manufacturing units, to be set up in economic conclaves, with number of job opportunities created by these units.
The plan is that those units that generate 10,000 jobs will get a 5-year tax holiday, while those offering 20,000 jobs will get a 10-year tax holiday. (News24Bureau)