Generation of Employment in Manufacturing Sector
Commerce and Industry Minister Smt. NirmalaSitharaman in a written reply in Rajya Sabha on 15th March 2017 stated that the Government is implementing
Integrated Development of Leather Sector (IDLS) sub-scheme as part of theIndian Leather Development Plan (ILDP).
- This has significantly contributed to capacity development in the labour intensive leather sector which has a larger scope for providing employment to socially and economically weaker sections of the society and women.
- Further, Stand-up India Scheme is implemented with an objective to facilitate bank loans between Rs. 10 lakh and Rs. 1 crore to at least one Scheduled Caste/Scheduled Tribe and at least one women borrower per bank branch for setting up Greenfield enterprises.
Tax incentives are provided under
section 80JJAA of the Income Tax Act on additional employment in manufacturing
sector.
In addition, the Government has taken a number of measures to promote
domestic manufacturing in the country in order to generate more employment
opportunities in this sector. This, inter alia, include
- Simplification and rationalization of the Foreign Direct Investment (FDI) Policy,
- Building of industrial corridors,
- Taking proactive steps to ease doing business environment in the country,
- Launch of ‘Make in India’ initiative in 2014. One of the objectives of ‘Make in India’ is to increase the share of manufacturing in the country’s Gross Domestic Product from 16% to 25% by 2022 and to create 100 million additional jobs by 2022 in this sector. The focus sectors under ‘Make in India’ initiative inter-alia include employment-intensive industries like
- textiles and garments,
- leather and footwear,
- gems and jewellery and
- food processing industries.
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