Budget 2024: PLI may come for employment sectors, textile-handicrafts may be included
Budget 2024: According to Deloitte's budget expectations research, the government is anticipated to take action to raise rural people' incomes sustainably. Increasing rural income is one way to combat inflation and the fall in consumption demand.
In the interim budget, the government may expand the Production Linked Incentive (PLI) program's reach to strengthen the manufacturing sector and create jobs. According to Deloy, PLI can also cover industries like jewellery, handicrafts, and textiles. According to Deloitte India partner Rajat Wahi, the PLI programme currently covers 14 industries. Numerous of these industries don't produce a lot of jobs.
Deloy said many sectors like leather, apparel, handicrafts and jewellery need to be brought under the ambit of the scheme. These sectors generate the most employment opportunities. Bringing these under the ambit of the scheme will help low-income families as well as urban people.
According to Deloitte's budget predictions study, the government is anticipated to take action to raise rural households' incomes sustainably. Increasing rural income is one way to combat inflation and the fall in consumption demand. On February 1, 2024, the Finance Minister will deliver the interim budget.
