PLI Schemes Have Potential For Creating 60 Lakh New Jobs In 5 years: Govt

Production Linked Incentive (PLI) schemes have the potential for creating 60 lakh new jobs in 5 years, said MoS for labour and employment, Rameswar Teli in a written reply in the Rajya Sabha.

In Maharashtra, the estimated Unemployment rate on usual status for persons of age 15 years and above has declined from 4.8 per cent in 2017-18 to 3.5 per cent in 2021-22, he said. 

Teli added, "Investments in Infrastructure and productive capacity have a large multiplier impact on growth and employment."

The budget of 2023-24 proposed to increase capital investment outlay steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP. 

"This substantial increase in recent years is central to the government’s efforts to enhance growth potential and job creation," the minister explained. 

Notably, the Centre has announced the Aatmanirbhar Bharat package to provide stimulus to businesses and to mitigate the adverse impact of Covid-19. 

Under this package, the government has provided a fiscal stimulus of more than Rs 27 lakh crore. This package comprises various long-term schemes/ programmes/ policies for making the country self-reliant and to create employment opportunities.

Since the inception of the Aatmanirbhar Bharat Rojgar Yojana (ABRY) in 2020, benefits have been provided to 60.3 lakh beneficiaries under the scheme.

As on 13 March 2023, 42.21 lakh loans have been disbursed under the  Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) scheme.