Karnataka Cabinet approves new employment policy to increase jobs for locals – The Hindu

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July 22, 2022 07:32 pm | Updated July 23, 2022 01:28 pm IST – Bengaluru:
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The vision of the policy is to ensure ample availability of relevant workforce across Karnataka. File Photo. | Photo Credit: Siva Saravanan. S
The new Karnataka Employment Policy, 2022-25, has mandated investors to increase the number of jobs for locals while expanding their industrial units or setting up new industries in the State.
The State Cabinet on Friday cleared the policy. Law and Parliamentary Affairs Minister J.C. Madhuswamy told presspersons after the Cabinet meeting that there were specific guidelines on how various industries should provide employment. “Under the new policy, the number of jobs should be increased and locals should be employed,” he said.
The vision is to ensure ample availability of the relevant workforce across Karnataka and provide job opportunities to a larger base of the State’s workforce to reduce unemployment in Karnataka, he said.
The increase in the number of jobs would depended on the category of the industry and investment. If an industry is categorised as medium-scale, where the minimum employment is 20 and it agrees to create seven more jobs, then the policy will allow for an additional investment of up to ₹10 crore, the Minister said.
Similarly, if an industry has proposed to increase working capital by ₹50 crore, it has to generate a minimum of 30-50 jobs. If the investment is ₹100 crore, a minimum of 35 additional jobs should be created, the Minister said.
The government has increased the minimum job generation requirement for industries, Mr. Madhuswamy said.
Ultra mega units, which were earlier required to create a minimum of 400 jobs, will now have to generate 510. The minimum job requirement of large-scale industries has increased from 50 to 60 and that of medium-scale industries from 10-15 to 20.
If the entrepreneurs have to invest additionally, they will have to create extra jobs based on the criteria explained in the policy, he said.
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Karnataka / Bangalore / employment
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