Tamil Nadu Budget 2024-25 announced payroll subsidy for additional women employment and also for the creation of high paying jobs in new Global Capability Centres (GCCs).
Government will introduce a special scheme to incentivise additional women employment in the State. This scheme will offer a payroll subsidy of 10% of the salary of women, differently abled and transgender employees for two years to all new industrial units providing direct employment to over 500 such individuals from Tamil Nadu, Finance Minister Thangam Thennarasu said in his budget speech.
In addition, creches for infant children will be established in all major SIPCOT industrial estates under public-private partnership to support working women. A new tailor-made skill training programme will be introduced to facilitate women willing to re-enter the job market after taking a sabbatical for reasons such as marriage and pregnancy, he said.
In order to make Tamil Nadu as the prime destination for GCCs in India, the State will incentivise the creation of high paying jobs in new GCCs by providing a payroll subsidy of 30% in the first year, 20% in the second year and 10% in the third year for jobs with pay above ₹1,00,000 per month. The Government will also facilitate setting up of GCCs in Coimbatore and Madurai, as per the budget speech.
ISRO is developing a spaceport in Thoothukudi district for launching Small Satellite Launch Vehicles. In proximity to this facility, TIDCO will establish a new Space Industrial and Propellant Park, at an extent of 2,000 acres, to promote space technology industries, it added.
SIPCOT will implement a policy to promote Plug and Play facilities from the coming year. In the first phase, these Plug and Play facilities will be set up in Shoolagiri in Krishnagiri district and Manallur in Tiruvallur district through public-private partnership, Mr. Thennarasu said.
The development works for India’s first PM-MITRA Textile Park (Pradhan Mantri Mega Integrated Textile Region and Apparel Park) in Virudhunagar district will commence in the coming year at a cost of ₹ 1,683 crore, creating two lakh job opportunities, he said.
Further, an Integrated Textile Park, spanning 111 acres will be developed by SIPCOT in Salem district with an anticipated investment of ₹ 800 crore, leading to creation of 8,000 employment opportunities, as per the budget speech.
In order to create employment opportunities in Thanjavur region, SIPCOT will establish a new industrial park, spanning 300 acres near Sengipatti, at a cost of ₹ 120 crore. Dedicated efforts will be made to focus on non-polluting industries such as food processing and non-leather footwear in this park, it added.
Chennai will host the “Global Start-up Summit‟ in January 2025, bringing together leading startups and accomplished young entrepreneurs from across the world, Mr. Thennarasu said.
