We just need an eye to spot them and the commitment to follow through.
One such opportunity that currently beckons us is to find ways of shaping the destiny of our nation through its young demography. At present, India has one of the youngest populations in the world. This makes it our collective responsibility to ensure that this young demography skillfully engages with entrepreneurial and employment opportunities in a world that is becoming increasingly volatile and uncertain.
In this article, we discuss how manufacturers and the youth can collectively leverage and deploy Schemes A and B of the 'Employment-Linked Incentive Schemes' (ELI) outlined in the Union Budget for FY25 towards building a future-ready manufacturing workforce. Scheme A aims to provide one month's wage to first-time employees in all sectors, with a direct benefit transfer of up to ₹15,000 in three installments. Scheme B aims to drive additional employment in the manufacturing sector, providing incentives to both employees and employers with respect to Employees' Provident Fund Organisation (EPFO) contributions in the first four years of employment.
Let us assume that a manufacturing unit employs a youth entering the workforce for the first time at a gross salary of ₹30,000, with 50% (₹15,000) as the basic salary and the remainder packaged as allowances—equivalent to 100% of the basic salary.
Denne historien er fra December 10, 2024-utgaven av Financial Express Chandigarh.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 10, 2024-utgaven av Financial Express Chandigarh.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
White-collar hiring up 9% in December
AI/ML, OIL & GAS, FMCG MAJOR GROWTH DRIVERS
Manu, Gukesh Among 4 to Be Awarded Khel Ratna
DOUBLE OLYMPIC-MEDAL-LIST Manu Bhaker and chess world champion D Gukesh were among four winners of the Major Dhyan Chand Khel Ratna award announced by the Sports Ministry, which also named an unprecedented 17 para-athletes in the list of 32 Arjuna awardees to honour their resounding success at the Paris Paralympics.
Climate change mitigation needs funding
At the fourth edition of the IE Thinc: CITIES series, presented by The Indian Express with Omidyar Network India and moderated by Amitabh Sinha, Editor (Climate and Science), panellists discussed how municipal bodies can leverage capital markets to solve climate-related problems
Captain Rohit to miss Sydney Test, 'opts to rest'
THE EARLY HINT of India captain Rohit Sharma sitting out of the final Test of the Border-Gavaskar Trophy at Sydney came from head coach Gautam Gambhir.
Norms for capex release...
THE BALANCE OF ₹55,000 crore is untied advances to states for projects identified by the states.
Indices soar nearly 2%
EQUITY INDICES OF China, Hong Kong, and Thailand declined by up to 2.66%, while Indonesia (up 1.18%), Australia (up 0.53%), and Singapore (up 0.35%) ended with gains.
Rein in tax terrorism
WE NEED A TRANSPARENT SYSTEM THAT CURBS LITIGATION AND A QUICK RESOLUTION PROCESS
When big idea met big tech
AI IN ADVERTISING
A 'Made in China' crisis awaits big auto
When Jaguar's \"COPY nothing\" brand reboot hit late last year, one self-styled car enthusiast replied on X: \"What the actual hell is this?\" Jaguar's response: \"The future.\" That remains to be seen. But the ad, unfamiliar and unsettling, does at least work as a portent of what's coming for the global auto industry.
H-1B Visa Flip-Flop
Trump must convince hardliners that giving US access to the world's best and brightest is essential to its future
