The Shipping Ministry in consultation with the NITI Aayog is firming up plans to set up mega national employment zones across the country. The plan, which is estimated to cost Rs 1 lakh crore, is expected to generate employment for one crore youth over the next three years.
It is expected that the plan would go on stream before the national elections due next year and would affirm the government’s efforts to generate jobs. It has been reported that a slew of fiscal and non-fiscal incentives are being planned to incentivise firms to set up their facilities in these zones. These incentives could range from tax holidays to capital subsidy and single-window clearances.
Reports state that the focus of these employment zones would be on labour-intensive sectors such as garments, leather, gems and jewellery. The employment zones are expected to come up in coastal states with the identified states required to make available adequate contiguous land. In a bid to ensure easy financing, the government also plans to grant these zones infrastructure status.
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