Finance Minister Nirmala Sitharaman emphasized that the government’s employment-linked incentive schemes and internship programs announced in the Union Budget 2024 are intended as a nudge for the private sector rather than mandates. In an interview with the Times of India, Sitharaman stated, That’s not political. Job creation has always been our priority, and we have introduced a package of five schemes.
Employment Linked Incentive
During the Budget announcement, Sitharaman introduced three ‘Employment Linked Incentive’ schemes as part of the Prime Minister’s package. These schemes focus on enrollment in the Employees’ Provident Fund Organisation (EPFO), targeting the recognition of first-time employees and offering support to both employees and employers. She clarified, “It’s not compulsory for anybody; we are nudging people to do it. Who is intruding into the private sector? By the way, you always accused us of supporting only two groups and not the others. Hypocrisy, thy name is Congress party.”
Addressing the continuity in the Budget, she said, It has every continuity from the interim budget; nothing has been dropped, though newer things have been added.
Measures Aimed at managing product
Regarding inflation and price pressures, Sitharaman highlighted several measures aimed at managing food products, particularly perishables. She noted the importance of the monsoon’s adequacy, as assessed by the meteorological department. She elaborated, There are several things being done for perishables — storage, irradiation. There is a scheme for MSME irradiation, which will help perishables last longer and reach the market even when it is not production season. We have announced measures to establish vegetable production clusters around major cities, ensuring better supply chain linkages.
The government’s approach also includes initiatives for improving supply chain linkages and supporting measures for perishable goods, aimed at maintaining better supply chain management. These efforts reflect the government’s broader strategy to ensure stability and growth in the agricultural and food sectors.
Overall, Sitharaman’s statements emphasize the government’s intent to foster job creation through incentivized participation rather than enforced mandates, aiming to bolster private sector involvement while addressing economic challenges such as inflation and supply chain inefficiencies.
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