The Government of Goa on September 26th 2024 issued a notification regarding the Employment Subsidy Scheme for Cashew Industry (First Amendment) 2024 further to amend the Employment Subsidy Scheme for Cashew Industry.
Key Updates of The Amendment:
The Employment Subsidy Scheme for Cashew Industry (First Amendment) 2024 comes into effect retroactively from August 22, 2022. The primary focus of this amendment is to enhance the criteria for enterprises seeking benefits under the scheme.
Key Changes
- Eligibility Criteria:
- The amended clause 4.2 stipulates that enterprises must engage a minimum of 60% Goan manpower in regular employment to qualify for the benefits.
- Definition of ‘Regular Employment’:
- For the purpose of this eligibility condition, the amendment specifies that an employee will be considered as ‘regular’ if they are employed on the enterprise’s payroll for at least 120 days in a year and work a minimum of 12 days per month for at least 8 months.
Importance of the Amendment
Promoting Local Employment
The requirement for a minimum percentage of Goan manpower emphasizes the government’s commitment to promoting local employment. By incentivizing enterprises to hire Goan residents, the amendment aims to boost the local economy and provide job security to the workforce in the cashew industry.
Supporting Sustainability in the Cashew Sector
This scheme encourages enterprises to not only employ local talent but also maintain a steady workforce. The definition of ‘regular employment’ ensures that jobs are not just temporary or seasonal, thereby contributing to the stability and sustainability of the cashew industry in Goa.
The Employment Subsidy Scheme for Cashew Industry (First Amendment) 2024 reflects the Government of Goa’s proactive approach to enhancing employment opportunities within the state. By setting clear eligibility criteria, the amendment aims to create a robust framework that supports local employment and fosters growth in the cashew sector.
