Government PLIs Worth 1.97 Lakh Can Create Jobs for 60 Lakh People

Union Minister Jitender Singh, in a written reply to the Lok Sabha, stated that the government's Production Linked Incentive programmes can create 60 lakh new jobs. He also said that the government is working to create jobs while boosting employability. Budget 2021-22 announced Production Linked Incentive (PLI) programmes worth INR 1.97 lakh Cr for a five-year period beginning in 2021-22.  These PLI schemes are being implemented by the concerned Ministries and Departments within the overall financial limits.

PLIs for Employment Generation

Some of the PLIs by Union Governments are Make in India, Start-up India, Digital India, Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation. The minister mentioned schemes like Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), Deen Dayal Antodaya Yojana National Urban Livelihoods Mission (DAY-NULM) which are oriented towards generating employment opportunities.

Some Beneficial Schemes for Startups

PM GatiShakti is a transformative approach of Government of India which is powered by Clean Energy and Sabka Prayas leading to huge job and entrepreneurial opportunities for all. The government has introduced the Pradhan Mantri Mudra Yojana (PMMY) to encourage self-employment. PMMY provides collateral-free loans of up to INR 10 lakh to micro companies and individuals to help them start or expand their businesses. In 2020, the government launched the Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi Scheme) to provide collateral-free working capital loans to street vendors who had been negatively impacted by the Covid-19 outbreak.

The Aatmanirbhar Bharat Rojgar Yojana (ABRY) was started on October 1, 2020, to stimulate employers to create new jobs and restore those lost during the Covid-19 pandemic. Benefits have been provided to 59.54 lakh beneficiaries as of July 20, 2022, with 53.23 lakh beneficiaries joining as new joiners.

National Initiative for Developing and Harnessing Innovations (NIDHI)

Menwhile, Dr. Jitendra Singh also stated that the National Initiative for Developing and Harnessing Innovations (NIDHI) - Entrepreneurs-in-Residence (EIR) programme has so far helped 604 budding entrepreneurs and start-ups.

He said, “The grants have been disbursed in the form of fellowship to the selected aspiring entrepreneurs across the country through a network of 29 Technology Business Incubator (TBIs) who act as a program implementation partner for NIDHI EIR program.”

Entrepreneurs-in-Residence (EIR) is a programme launched by the Department of Science and Technology (DST) in the fiscal year 2016-17 under the aegis of the National Initiative for Developing and Harnessing Innovations (NIDHI). This programme aims to encourage and help individuals who want to be entrepreneurs and have an innovative idea. The NIDHI EIR programme is positioned as a pre-incubation programme with the goal of creating a fresh pipeline of entrepreneurs or businesses.

The primary goal of the NIDHI EIR programme is to encourage graduating students to pursue entrepreneurship rather than finding employment. The chosen NIDHI-EIR support recipient is eligible for a monthly grant of up to INR 30,000/- for a term of 12 months. In the event of deserving individuals, this fellowship might be extended for up to 18 months. Since the inception of the NIDHI-EIR programme, 604 aspiring entrepreneurs have received grants totalling INR 19.03 Cr.