Budget 2022: Government to create over 6 million new jobs through Make in India
By Team Newsable | First Published Feb 1, 2022, 12:25 PM ISTIndia’s production-linked incentive (PLI) scheme in 14 sectors for Aatmanirbhar Bharat (self-reliant India) will create 6 million jobs, Finance Minister Nirmala Sitharaman said in her Budget 2022-23 speech.
Presenting her fourth annual budget, Finance Minister Nirmala Sitharaman announced that the government is aiming to create over 6 million jobs through Production Linked Incentive Schemes and reiterated that India is on path of strong recovery.
India’s production-linked incentive (PLI) scheme in 14 sectors for Aatmanirbhar Bharat (self-reliant India) will create 6 million jobs, Finance Minister Nirmala Sitharaman said in her Budget 2022-23 speech.
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She said that the PLI scheme would account for additional new production of Rs 30 trillion.
“PLI in 14 sectors will create 60 lakh new jobs and additional production of Rs 30 lakh crore in next 5 years, says Nirmala Sitharaman,” she said.
“The government is focused on citizen-centric reforms and this Budget aims to reform the economy over the next 25 years, she added.
FM Sitharaman said that after Gati Shakti will propel the economy forward, resulting in more jobs and opportunities for young people.
The PLI scheme, announced in the Budget for 2021-22, has set aside nearly Rs 2 trillion in incentives over 5 years to encourage local production and exports, and was initially meant for sectors such as telecom, electronics, and automotives, before gradually including some others.
Sitharaman, who presented her second ‘paperless’ budget this year, said that India’s economy would expand by 9.2 per cent in the fiscal year ending March 31. In the previous financial year, the economy had contracted by a record 7.3 per cent, as harsh Covid-related restrictions crippled commercial activity, denting demand for goods and services, and disrupting supply chains.
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