The Union Cabinet of India, led by Prime Minister Narendra Modi, has approved the Employment Linked Incentive (ELI) Scheme with an outlay of ₹99,446 crore (approximately $11.7 billion). The scheme aims to generate over 3.5 crore (35 million) jobs across all sectors within two years, with a special focus on the manufacturing sector. Structured in two parts, Part A targets first-time employees who will receive a wage incentive of up to ₹15,000 in two installments. Employers will also be incentivized to create additional jobs, supporting large-scale employment generation and formalization. The initiative seeks to enhance employability and social security for the workforce, providing benefits such as wage support and EPFO (Employees' Provident Fund Organisation) benefits. The government has described the scheme as a transformative step to boost India's job market, economic growth, and youth employment.