How FM Tackled Unemployment? | Will Employment Linked Incentive Scheme Work? #Budget2024

In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman announced the 'Employment-Linked Incentive (ELI) Scheme' to address the issue of rising unemployment in the country. But what exactly is the Employment-Linked Incentive Scheme? How is it tackling unemployment? And how effective is it? In this video, I dive into these questions. Additionally, I explore Section 80JJAA of the Income Tax Act, which already offers a similar incentive for employers. Can this section be leveraged to solve the unemployment problem? I also examine the credibility of unemployment data. Watch the video to gain a comprehensive understanding of these topics. *******Correction from 14:15 to 14:26: By mistakenly said the company has to take the refund instead of the government. But the overall point is to say that there is more compliance and that will have some trouble for the payroll team.******* #unemployment #india #indianeconomy #nirmalasitharaman #unionbudget2024 #employment #employmentnews #budget #indiabudget2024 #data #plfs #cmie #employmentdata #indianews #financenews #economics #vacancy #mumbaiairport #mumbainews #jobs #labour #indiajobs ----------------------------------------------------------------------------------- ⏱️ Time Stamps 01:08: Mumbai Airport Vacancy 02:00: Underemployment in India 02:34: Unemployment Data in India - Government vs. CMIE 06:18: Details of Employment Linked Incentive Scheme 07:17: Scheme A of ELI 09:19: Scheme B of ELI 10:25: Scheme C of ELI 11:49: Thoughts on ELI *******Correction from 14:15 to 14:26: By mistakenly said the company has to take the refund instead of the government. But the overall point is to say that there is more compliance and that will have some trouble for the payroll team.******* 15:13: Section 80JJAA of Income Tax Act 17:25: ELI, a Recipe in Haste? ----------------------------------------------------------------------------------- Sources: Budget Speech Page 31 to 33: https://www.indiabudget.gov.in/doc/budget_speech.pdf Section 80JJAA, Clear Tax: https://cleartax.in/s/section-80jja-income-tax-act PLFS Data for Jan-Mar 2024: https://www.mospi.gov.in/sites/default/files/publication_reports/Quarterly_Bulletin_PLFS_Janaury-March2024.pdf CMIE June 2024 Data: https://www.cmie.com/kommon/bin/sr.php?kall=warticle&dt=20240701180501&msec=110#:~:text=Unemployment%20rate%20in%20India%20rose,6.3%20per%20cent%20in%20May. Bond Economist, YouTube - @thebondeconomist Macro Sutra, The Print, YouTube - https://www.youtube.com/watch?v=10HQW_Jfy4Y&list=PLfa0eRI2uIaTKUwBPPnMEIGEriEsw__4I ----------------------------------------------------------------------------------- 👉🏼 Follow Me on - LinkedIn - https://www.linkedin.com/in/swapkar Twitter - https://twitter.com/Swap_Kar Instagram - https://www.instagram.com/swap_kar/ Blog - https://econgullyblog.wordpress.com/ Support the channel - https://donate.stripe.com/3cs2aD26u4bB5UYeUUhttps://tinyurl.com/3bav4hks