New Delhi, July 1 -- The Union Cabinet on Monday approved the rollout of the Employment Linked Incentive (ELI) scheme, with an outlay of Rs 99,446 crore, aimed at generating 3.5 crore formal jobs between 1 August 2025, and 31 July 2027.

The ELI scheme is a flagship component of Prime Minister Narendra Modi's third-term employment agenda, which prioritizes large-scale job creation, workforce formalization, and economic inclusion. Senior officials had earlier indicated that the Prime Minister had directed key ministries to align fiscal incentives with measurable employment outcomes. With Monday's Cabinet approval, the scheme moves from budgetary promise to full-scale policy execution.

The scheme was first announced in the Union Budget 202...