Context:
Labour ministry has demanded finance cut of ELI Scheme allocation for FY25.
Key Highlights:
- It has come out with reduced estimates with an almost a third reduction in it, to the tune of ₹ 6,852 crore.
- These three ELI schemes were announced during the Budget, but so far the Union Cabinet has not accorded approval to them.
- Budget
- In the next six and a half years is ₹ 1.07 trillion.
The Employment Linked Incentive (ELI) Scheme was being launched in the Union Budget of the financial year 2024-25 aiming to generate a number of employment which is basically targeting the first time employees in the formal sector which is registered with EPFO.
- Ministry
- Ministry of Finance
