3 hrs ago
Karnataka Cabinet Approves Udyoga Nidhi To Create Jobs
The Karnataka government has approved a new program called Udyoga Nidhi.
It will encourage companies to create jobs in 11 districts that have received less industrial investment.
The government hopes the program will create one lakh new jobs.
Eligible businesses can receive Rs 2,500 each month for every new worker they hire.
This support can continue for up to 24 months.
Businesses must show that they hired people and paid their salaries before receiving the money.
The government will set aside Rs 305 crore each year for the program.
The plan is meant to help young people find work closer to home instead of moving to Bengaluru or other major cities.
It will work alongside the Yuva Nidhi scheme, which supports young people seeking jobs and skills.
The Karnataka Cabinet approved the Udyoga Nidhi scheme to boost investment and employment in 11 backward districts.
The scheme aims to create one lakh new jobs and reduce regional inequality across Karnataka.
Eligible MSMEs and industrial establishments will receive Rs 2,500 per additional employee monthly for up to 24 months.
The government will provide an annual grant of Rs 305 crore, with payments verified against recruitment and salary records.
The scheme will complement Yuva Nidhi and seek to reduce youth migration to major cities such as Bengaluru.
- Who
- The Karnataka Cabinet, with details announced by Minister Priyank Kharge, and eligible MSMEs and industrial establishments.
- What
- Approval of the Udyoga Nidhi employment incentive scheme, which aims to create one lakh jobs.
- Where
- Eleven backward districts of Karnataka, including Kalaburagi, Bidar, Raichur, Yadgir and Bagalkot.
- When
- The announcement was made on Thursday; the incentive can be provided for up to 24 months per additional employee.
- Why
- To attract investment and industries to backward regions, reduce regional inequality, and limit youth migration to major cities.
Key facts
- Scheme
- Udyoga Nidhi
- Job target
- One lakh new jobs
- Coverage
- 11 backward districts in Karnataka
- Employer incentive
- Rs 2,500 per additional employee per month
- Maximum duration
- 24 months
- Annual government grant
- Rs 305 crore
- Verification
- New recruitment and salary payments must be verified before incentives are released
Quotes
Priyank Kharge
Karnataka Minister for IT/BT and Rural Development and Panchayat Raj
“The government will provide an annual grant of Rs 305 crore for the scheme. The incentive will be released only after verification of new recruitment and salary payments to employees. This is to ensure that assistance reaches only those industries that actually create new jobs and retain them, ensuring transparency and accountability in implementation.”
thehansindia.com
“Development should not be limited to Bengaluru or a few cities. Investment and employment opportunities should reach every part of the state. Our youth should not have to leave their hometowns and districts for jobs. Our government's goal is to create good job opportunities in their own regions and enable them to build their future there.”
thehansindia.com
Sources
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