New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Under Priority 2 of the Union Budget 2024-25, which of

    is designed to incentivize job creation in the manufacturing sector?
    A Scheme A Correct Answer Incorrect Answer
    B Scheme B Correct Answer Incorrect Answer
    C Scheme C Correct Answer Incorrect Answer
    D PM’s Package (4th Scheme) Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Priority 2: Employment & Skilling As part of the Prime Minister ’ s package, 3 schemes for ‘ Employment Linked Incentive ’ to be implemented - Scheme A - First Timers; Scheme B - Job Creation in manufacturing;  Scheme C - Support to employers.   Package of PM ’ s five schemes for Employment and Skilling   Prime Minister ’ s Package of 5 Schemes and Initiatives for employment, skilling and other opportunities for 4.1 crore youth over a 5-year period. Scheme A - First Timers: One-month salary of up to `15,000 to be provided in 3 installments to first-time employees, as registered in the EPFO. Scheme B - Job Creation in manufacturing: Incentive to be provided at specified scale directly, both employee and employer, with respect to their EPFO contribution in the first 4 years of employment. Scheme C - Support to employers: Government to reimburse up to `3,000 per month for 2 years towards EPFO contribution of employers, for each additional employee. New centrally sponsored scheme for Skilling 20 lakh youth to be skilled over a 5-year period. 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements. New Scheme for Internship in  500 Top Companies  to 1 crore youth in 5 years

    Practice Next