<h1>Government launches Rs 1.07 lakh crore Employment Linked Incentive scheme targeting 3.5 crore new jobs over two years</h1> The central government approved an Employment Linked Incentive scheme worth Rs 1.07 lakh crore to create 3.5 crore jobs over two years through retirement fund body schemes. The program targets first-time employees and employers, offering one month's wage up to Rs 15,000 for new workers and monthly incentives up to Rs 3,000 for employers hiring additional staff. Manufacturing sector receives extended benefits for four years. The scheme operates through two parts: Part A benefits 1.92 crore first-time employees, while Part B incentivizes employers for 2.60 crore additional jobs, aiming to formalize the workforce.