GUWAHATI, February 6: In a win-win situation for both the investor and the unemployed, private investors in the state will now be eligible for additional incentives of Rs 10,000 for every local youth they employ.
Assam finance minister Himanta Biswa Sarma said in his speech that the state government has been taking some bold steps to substantially increase the presence of private industry in the state so that the Assamese people can avail employment opportunities that are at par with other major cities of India.
He said that as a result of some of the initiatives of the state government, like Advantage Assam, have received overwhelming response and appreciation from the industry and the private sector is, now, shedding the apprehensions about sociopolitical stability in the region and coming forward to set up their business units in the state.
“While we have laid a red carpet for the industries to establish their base in Assam, we also want to make sure that the local youth have the first right on employment generated by these companies. We do not want to discourage potential investors with complex rules and impositions, we would rather like to encourage them to be aligned with our developmental agenda,” he said in his speech.
“Simply put, the meaning of this scheme is that you employ one local youth in your organization and get an incentive of Rs 10,000 from the state government,” he said. The proposed scheme has been as Incentive Scheme for the Employment of Local Youth (I-SELY).
To avail this incentive employers have to offer a regular, full-time job, along with mandatory benefits such as Employees’ State Insurance (ESI) coverage or
Provident Fund (PF) etc., to the local youth. The labour and welfare department in close co-ordination with the industries department will formulate detailed guidelines for the effective implementation of this scheme.
“We intend to launch I-SELY immediately in the financial year 2019-20. I am confident that this scheme will not just give a fillip to the establishment of businesses in Assam but also go a long way in generating local employment for the talented youth of Assam,” Sarma said.
A sum of Rs100 crore has been earmarked for I-SELY in the budget and based on the offtake of the scheme, the government will review the success of this scheme and make necessary changes to strengthen it further. (TNN)