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Prime Minister Narendra Modi on Saturday emphasised his government's focus on generating employment in the public and private sectors, asserting that the country has progressed in every field in the past 11 years. In a virtual address after the distribution of over 51,000 appointment letters, he said his government's welfare schemes, be it building over 4 crore houses for the poor, distributing over 10 crore new LPG connections or the rooftop solar programme, have created lakhs of new employment opportunities. Noting that over 25 crore people were lifted out of poverty in the past 10 years, the prime minister said it would not have happened but for the employment and sources of income generated for them. These poor people used to have a difficult living and feared death but became so strong that they defeated poverty, he added. Modi said his government's focus on boosting manufacturing has paid off, saying electronic manufacturing has risen over five times in 11 years and mobile ..
The Employment Linked Incentive (ELI) announced in the budget for 2024-25 with an outlay of Rs one lakh crore, will promote job creation and provide social security, an official of Employees' Provident Fund Organisation (EPFO) said on Tuesday. Regional PF Commissioner-I Randhir Kumar said that the scheme is aimed at incentivising creation of 3.5 crore jobs over a period of two years, that it will be effective from August 1, 2025, and to continue till July 31, 2027. He said out of the total of 3.5 crore, 1.92 crore beneficiaries will be first-timers entering the workforce. Kumar said the thrust of the scheme is on the manufacturing sector, adding that you get benefits under the scheme, the establishments need to be registered with the EPFO. For first-time employees, the scheme provides for a maximum amount of Rs 15,000 per annum to be paid in two instalments. The employers will also get incentives by getting an amount of Rs 3,000 per month for each additional and sustained employme
The government wants to increase credit availability to micro, small and medium enterprises (MSMEs) and also improve them by enhancing technology, an official said on Friday. Addressing CII's Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said India is the fourth largest economy today and would be the third-largest soon. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast. He said that MSMEs provide employment to 27 crore people and that is why the ministry keeps them in mind while making policies. "We want to increase credit availability to MSMEs. This year Budget provided for providing credit cards to micro enterprises," he said adding MSME NPAs (bad loans) were less than 5 per cent in last five years as per RBI data. He also highlighted the role of technology to improve MSMEs, suggesting that through use of technology issues between environment concerns and growth aspirations can be ...
Workforce gender gap begins early in India with women holding just one in three entry-level private sector roles and only 24 per cent of managerial positions, a report said on Wednesday. In India, despite forming half of the university graduate pool, women continue to face systemic barriers to entry, advancement, and retention in formal employment, according to McKinsey & Company's 'Women in the Workplace' report. It showed that women hold just one in three entry-level private sector roles and only 24 per cent of manager positions, signalling a wide gap between potential and actual representation. The report is based on insights of 324 organisations across India, Nigeria, and Kenya employing roughly 1.4 million people, including 77 private sector organisations from India (having a total of 9 lakh employees). The gender imbalance in India is further highlighted by a seven-year age gap at the entry level where women average 39 years compared to men at 32 years, the widest gap across