Wage subsidy for new ventures in Kerala

New initiatives are expected to benefit 37 lakh people, and will make investment processes simpler and also generate more employment

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Kerala Chief Minister Pinarayi Vijayan recently announced certain initiatives to facilitate businesses in the state. One such initiative is a wage subsidy scheme for the first five years for new businesses that get registered from 1 April, 2020 onwards. This scheme can be availed only by businesses and units that provide ESI and PF benefits to workers. In addition, women workers will receive a minimum of Rs 2,000 more than their male counterparts as part of the initiative, which is expected to benefit about 37 lakh people.

Speaking at a global investors meet at Kochi, the Chief Minister emphasised on the state’s commitment to introducing policies that will make investment processes simpler and easier to follow. He also drew attention to the fact that the investment climate in Kerala is ideal at the moment and invited investors to make investments in different sectors.

There will also be a relaxation in the 15-acre land ceiling for big units. Those units investing over Rs 250 crore and employing 1000 or more will enjoy this concession, which will be enabled following necessary changes to the Land Legislation Act. There will be no bar on women factory employees working night shifts. Their employers will be responsible for their safety and security.

Provisions will be made to ensure that more local bodies are involved in promoting industries and generating jobs. Smooth functioning of units will also be ensured via better labour relations.

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