The Union Budget 2025-26 should maintain its focus on employment creation to leverage India’s demographic advantage and drive economic growth, according to the Confederation of Indian Industry (CII). The CII emphasized that the previous year’s budget introduced several initiatives to boost job creation, including the Employment Linked Incentive Scheme. They anticipate further measures in the upcoming budget to spur employment growth. With a population of 1.45 billion and a median age of 29, India expects to add 133 million individuals to its workforce by 2050, underscoring the need for large-scale job creation to ensure productive engagement and inclusive growth.
The CII proposed a comprehensive National Employment Policy to integrate various employment-focused schemes across different ministries. This unified approach could enhance the National Career Service (NCS) by developing a Universal Labour Information Management System (ULIMS) for data on job opportunities, skill demands, and training aligned with future projections.
CII’s budget recommendations include a new tax provision to encourage employment by offering deductions over three years for new jobs, capped at Rs 1 lakh per month. The organization also urged targeted support for labor-intensive sectors such as construction, tourism, textiles, and low-skilled manufacturing, suggesting synchronized efforts to enhance exports through favorable tariff structures, Production/Employment Linked Schemes, and Free Trade Agreements.
To boost female workforce participation, the CII suggested initiatives like building dormitories with CSR funds, formalizing the care economy, and creating government-backed creches in industrial areas. Additionally, CII proposed an internship program in rural government offices for college graduates, aiming to create temporary jobs and bridge the gap between education and work experience.
Original Source: https://www.sentinelassam.com/more-news/national-news/union-budget-2025-26-should-continue-to-prioritise-job-creation-confederation-of-indian-industry
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Publish Date: 2025-01-06 13:00:00
