What new employment-linked incentives were introduced for employees and employers in the recent Budget
The latest Budget announced employment-linked incentives for both employees and employers.
- Introduction of Employee Stock Ownership Plan (ESOP) for public sector banks and financial institutions to attract and retain talent.
- Extension of tax holiday for startups by one more year to foster innovation and job creation.
- Expansion of Production Linked Incentive (PLI) scheme to more sectors to boost manufacturing and job opportunities.
- Reduction in compliance burden for employers through simplification of labor laws and processes.
- Enhancement of apprenticeship opportunities for youth to acquire practical skills and improve employability.
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9 months ago