New Delhi, July 1 -- The Union Cabinet on 1 July approved the Employment Linked Incentive (ELI) scheme to support job generation across all sectors, with a special focus on manufacturing. The decision was taken at a meeting of the Cabinet chaired by Prime Minister Narendra Modi.

Union Minister Ashwini Vaishnaw announced that the Centre's allocation for the ELI scheme will be Rs.1.07 lakh crore, which seeks to provide opportunities to the nation's youth and middle class.

The government-backed ELI scheme aims to create additional employment in the formal sector of the economy.

The government seeks to support first-time employees, provide incentives to employers focusing on manufacturing, and provide monetary support for every employee, a...