The recent budget tackled the pressing need for productive, well-paying jobs in India, aiming to balance the labor-capital mix in industry. It introduced employment-linked incentives (ELIs) and a major internship program for skilling in top companies, projecting the creation of 8 million skilled workers annually. This shift towards labor-intensive production and increased consumption through revised income tax slabs is intended to boost consumer demand. Meanwhile, capital expenditure remained unchanged, with significant funds allocated for job creation and skill development to be distributed over upcoming years.
