Union Budget Set To Boost Job Sector

The Centre is gearing up to put a strong emphasis on job creation in its upcoming budget. Having gathered a wealth of suggestions on the matter, it aims to unveil its plan on July 23. Writes ETV Bharat's Saurabh Shukla

New Delhi: In the upcoming budget, there's growing pressure on the Centre to introduce measures that actively support job creation. Among the suggestions received, there's a strong push not only to incentivise corporations to create jobs but also to implement special incentives in regions where job opportunities are most needed.

The Confederation of Indian Industry (CII) has made recommendations aimed at boosting employment and livelihoods. It has proposed launching Employment Linked Incentive Schemes targeting sectors with significant potential for growth and employment, such as Toys, Textiles & Apparels, Furniture, Tourism, Logistics, Retail, and Media & Entertainment.

Additionally, CII has emphasised the importance of tying incentives directly to job creation, particularly highlighting the need for higher incentives for women employees. Furthermore, industries have called for revisions to Section 80 JJAA of the Income Tax Act, which allows eligible businesses to claim the deduction related to additional staff costs. CII has suggested increasing the emolument limit from the current Rs 25,000 and raising the deduction beyond the current 30 per cent.

CII has also stressed the need to grant infrastructure status to the hospitality sector, regardless of population criteria, and to provide Deemed Export Status to earning from tourism by foreign visitors in order to boost exports. Industry leaders have appealed to the finance minister to establish a world-class Central Footwear Research Institute similar to ARS-SUTORIA in Italy and SATRA in the United Kingdom.

Additionally, there is a call for developing four-five footwear clusters that include both inland and port-based zones, equipped with shared facilities such as design studios, trade centres, testing facilities, and skill development centres.

To support the food processing industry and create more job opportunities, there is a demand for the government to establish and lease warehouses and cold chains to private players, thereby enhancing post-harvest infrastructure. Moreover, industries seek government assistance in setting up food processing centres at the panchayat level to promote the local processing of agricultural produce and generate employment opportunities at the grassroots level.