Employers can expect something great in Budget 2016. Find out what

Prime Minister Narendra Modi wants to walk the talk and fulfil his commitment of creating more jobs. In lieu of this, employers may get 30% income tax exemption for creating extra jobs.

In Budget 2016, it is likely that Finance Minister Arun Jaitley will announce an array of incentive for job creator.

ET reported that a panel of secretaries suggested fiscal and monetary incentives, including 30% income tax exemption for units that create an additional 2% jobs.

Also, the employer could be given a 125% rebate on provident fund contributions.

As per the data with labour bureau, only 50% of the population aged 15 years and above is employed.

“The labour ministry has proposed various fiscal and monetary interventions as part of the government's employment-generation strategy and this is likely to find its way in the budget considering that PM Modi had committed to incentivise employment generation in the country," an official told ET.