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Budget should bring more PLI rates to boost job creation in manufacturing: CII

The Confederation of Indian Industry (CII) has suggested that employment-intensive sectors such as leather and food processing could be provided an incentive scheme to attract investments and create employment.

January 30, 2022 / 03:10 PM IST
Representational picture

Representational picture

Ahead of the Union Budget 2022-23, industry body CII on Sunday pitched for additional incentive rates to be included in the Production Linked Incentive Schemes based on the number of jobs created. The Confederation of Indian Industry (CII) has suggested that employment-intensive sectors such as leather and food processing could be provided an incentive scheme to attract investments and create employment.

"With the imperative to support jobs and create new employment as the country recovers from the pandemic, CII suggests that the Budget add a job-creation component to the incentive. CII also recommends that more employment-intensive sectors be brought under the purview of the PLI schemes which will greatly encourage investments in these sectors," CII Director General Chandrajit Banerjee said.

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The incentives could be based on the proposed number of jobs being created in the project, giving higher weightage to job creation in the PLI schemes, said CII. Apart from the PLI scheme for employment, CII brought out a range of measures that could be taken up in the forthcoming Budget that would help jobs to gain traction as the pandemic impact is being felt across income classes.