The Cabinet has given the green light to a significant Rs 1-lakh crore Employment Linked Incentive (ELI) scheme, which is set to generate over 3.5 crore jobs within the organized sector. This initiative, announced in July 2024, is a strategic move to tackle the growing concerns surrounding job creation as the number of job seekers continues to rise. The scheme is particularly focused on first-time employees, aiming to stimulate employment by encouraging manufacturing companies to expand their workforce. By offering financial incentives, the government seeks to motivate these companies to hire more individuals, thereby addressing unemployment issues and boosting economic growth. The ELI scheme is designed to provide substantial support to manufacturing firms that commit to increasing their workforce. This approach not only aims to create new job opportunities but also seeks to enhance the overall productivity and competitiveness of the manufacturing sector. The government’s decision comes at a crucial time when there is a pressing need for job creation strategies that can accommodate the influx of new entrants into the job market. By targeting first-time employees, the scheme hopes to integrate more young professionals into the workforce, providing them with valuable experience and skills development opportunities. This initiative is expected to have a ripple effect on the economy, as increased employment can lead to higher consumer spending and improved living standards. Overall, the ELI scheme represents a proactive step by the government to address unemployment challenges while fostering economic growth through strategic incentives for job creation in key sectors.