Kerala Zero Unemployment Scheme 2024 – 5 Years Subsidy for New Industries to Attract Investors

Kerala govt. to start Zero Unemployment Scheme to provide 5 years subsidy to new industries, new ventures registered b/w 1 April 2020 to 31 March 2025 to avail incentive based on creation of employment for jobless youth
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Kerala government has launched Zero Unemployment Scheme 2024 for the welfare of jobless youth. Under this 0 unemployment scheme, the state govt. will provide 5 years subsidy for new industries on the basis of creation of new employment opportunities. The industries registering in Kerala from 1 April 2020 to 31 March 2025 will be eligible for Wage Incentive Scheme. Moreover, industries started upto 31 March 2025 will get five years to implement the project and the subsidy scheme will end in five years.

The main objective is to realize the vision of zero employment in Kerala in the next 10 years. Kerala Zero Unemployment Scheme will ensure social security for 37 lakh families. The state govt. is focusing on ease of doing business and making Kerala an investor friendly state. This scheme will ensure that youths get employment opportunities as per their educational qualification.

Kerala Zero Unemployment Scheme 2024

The important features and highlights of Zero Unemployment Scheme 2020-25 in Kerala are as follows:-

  • To achieve 0 unemployment in the next 10 years in Kerala.
  • 5 years Subsidy for new industries based on creation of new employment opportunities for unemployed candidates.
  • Kerala govt. will give substantial amount as subsidy for each job opportunity during 5 year time frame.
  • For women empowerment, each women employee will fetch Rs. 2,000 more than her male counterpart.
  • Industries registered b/w 1 April 2020 to 31 March 2025 are eligible.
  • All of these registered industries will get 5 years to implement Zero Unemployment Scheme.
  • This scheme is going to ensure social security coverage to around 37 lakh families.
  • Kerala govt. will remove restrictions on women to work during night hours.
  • Industries would be able to employ women workers for night duty if they can ensure their security.
  • The woman workers should be provided safe accommodation and travel facilities.
Kerala 5 Year Subsidy New Industries
Kerala 5 Year Subsidy New Industries

All this information is given by CM Pinarayi Vijayan while inaugurating ASCEND 2020, the second Global Investors Meet in Kochi.

Incentives for Industries in Kerala

Kerala government is planning to to ease the restrictions on private land holdings in order to facilitate big industrial investment. The Land Reforms Act introduced by the state in 1963 had limited the maximum land holding by a private individual to 15 acres. But this was posing hurdles in bringing big industries in the state. So, Kerala govt. will relax restrictions for industries that invest more than Rs. 250 crore and provide employment to more than 1,000 people.

The state govt. of Kerala wants to make Kerala one among the top 5 investor-friendly states in the country. Kerala government has identified 1,500 acres of land in Palakkad for development of industries under the Kochi-Coimbatore Industrial Corridor project. KSIDC has drawn project to develop life science parks, medical devices park, an electronics & hardware park and a light engineering park. Govt. will also explore possibilities of development in the tourism sector so that each resident in the state can host a tourist.

All villages in the Kerala state have the potential to grow as tourism destinations. To facilitate the development, we have to improve basic amenities including hotels and homestays. The whole network would be brought under a centralized monitoring system.

Removal of Building Curbs to Facilitate Investment in Kerala

Various industrial parks would be established in private sector and common facilities would be provided. To address the complaints of investors regarding non-cooperation of local bodies, Kerala govt. has set target of creating 5 employment opportunities per 1,000 population per year for each local body. The restrictions on construction of buildings with more than 18,000 sq m space along panchayat roads will be removed.

The state govt. will initiate steps to provide power connection to new business ventures within 30 days from the date of application. Moreover, all the industrial units will be allowed to source water from the nearest water body if they install rainwater harvesting units. In addition to this, Environment approval for buildings with a built-up area of more than 20,000 sq m will be provided through a single-window system.

The deposit amount for upgrading the power connection will be returned by the state government of Kerala in installments. The loan amount extended by KSIDC to industries will be raised to Rs. 100 crore from the present Rs. 35 crore.

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1 thought on “Kerala Zero Unemployment Scheme 2024 – 5 Years Subsidy for New Industries to Attract Investors”

  1. സാര്‍, ഞാന്‍ ഒരു ചെറുകിട അടക്ക വ്യാപാരിയാണ് എന്‍റെ ബിസിനസ്സ് വിപുലീകരിക്കുന്നതിന് ഒരു 8ലക്ഷം രൂപ ലോണ്‍ അനുവദിച്ചുതരണമെന്ന് വിനീതമായി അഭ്യര്‍ത്ഥിക്കുന്നു


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