 "Job creation likely to be key thrust area of this Budget")
The key theme of Budget 2017 is likely to be the creation of more "quality" jobs as the Modi government looks to avoid the tag of 'jobless growth'.
To achieve the same, promoting manufacturing in labour-intensive sectors and promoting tourism is in focus. "Rapid growth in manufacturing in general and ensuring healthy growth in labour-intensive sectors such as clothing, leather manufacturing, food processing and electronic assembly would help create quality jobs," said a source.
According to the source, this would allow workers in agriculture and informal sector manufacturing and services to migrate to the formal sector.
Announcements relating to setting up of coastal 'employment' zones could be included in the Budget, as the government is likely to link incentives for manufacturing units to be set up in economic conclaves with the number of jobs being generated, reported The Times of India. Under the proposal, firms would get a five-year tax holiday on corporate tax for generating 10,000 jobs and a 10-year tax holiday for employing more than 20,000 workers.
