• UGI USER
  • Jul 27, 2024
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GOVT FORMS CORE GROUP TO INTEGRATE EMPLOYMENT DATA

Why in the news?

The government forms a core group to integrate employment data, following new schemes in Budget 2024-25 for job creation.

Formation of Core Group:

  • Objective: An inter-ministerial core group will be formed to streamline and integrate employment data from various departments.
  • Announcement: This follows Budget 2024-25’s introduction of employment-linked incentive schemes and a five-year internship program with India Inc.
  • Key Figures: Union Minister Mansukh Mandaviya, Commerce Minister Piyush Goyal, and Labour Secretary Sumita Dawra led the discussions.
source:pib

Schemes and Data Sources:

  • ELI Schemes: Focus on first-time employees, manufacturing workers, and job creation.
  • Data Sources: Periodic Labour Force Survey (PLFS) by MoSPI, payroll data from Employees’ Provident Fund Organisation (EPFO).
  • Current Status: EPFO data will be used to support the ELI schemes.
About Concept of Employment Linked Incentive (ELI):

  • Definition: A policy framework offering financial incentives to companies for creating new jobs.
  • Focus: Rewards companies based on the number of new payroll jobs, not production output.
  • Distinction: Unlike Production Linked Incentives (PLI), which reward production.