The Employment Linked Incentive (ELI) Scheme has been designed with a clear objective in mind—to encourage businesses to generate more employment opportunities while ensuring that these jobs are meaningful and sustainable for the youth of our country. The Ministry of Labour and Employment recently held its first roundtable meeting with trade unions to discuss the framework of this ambitious scheme.
What is the ELI Scheme?
The ELI Scheme is a strategic initiative aimed at encouraging industries and businesses to create job opportunities, especially for the youth. The focus is not only on increasing the number of jobs but also on providing employment that adds value, ensuring the long-term development of employees. This scheme is part of the government’s larger mission to tackle unemployment and boost economic growth.
Government’s Commitment to Sustainable Jobs
According to the Ministry of Labour and Employment, the ELI scheme has a dual purpose: it promotes employment and ensures these jobs are sustainable. The scheme is designed in such a way that businesses benefit from incentives when they generate employment that leads to meaningful careers for young professionals.
Roundtable Discussions with Trade Unions
The first roundtable meeting, held by the Ministry of Labour and Employment since the new minister took charge in June, provided an opportunity for trade unions to offer suggestions on the formulation of the ELI scheme. These discussions are crucial to ensure that the scheme not only benefits employers but also safeguards the rights and future of employees. The ministry has made it clear that inputs from trade unions are welcome to fine-tune the scheme for maximum impact.
Next Steps: Shaping the Future of Employment
The Ministry is committed to working closely with trade unions, businesses, and other stakeholders to finalize the ELI scheme. This collaborative approach is expected to lead to the creation of a framework that ensures employment growth while addressing the specific needs of the youth, making it easier for them to secure meaningful and stable jobs.
The ELI scheme represents a significant step toward boosting employment in the country. With the government’s commitment and input from trade unions, the scheme aims to create a sustainable future for the youth by providing them with the jobs they need and deserve.
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