Union Cabinet approves first ever policy for country’s capital goods sector

Q.  Union Cabinet approved the first ever policy for country’s capital goods sector envisaged a creation of how many new jobs by 2025?
- Published on 26 May 16

a. 21 million
b. 22 million
c. 23 million
d. 24 million

ANSWER: 21 million
 
This will envisage the creation of 21 million new jobs by 2025. The objective of the National Capital Goods Policy is to create an ecosystem for globally competitive capital goods sector and attain total production in excess of INR 7.5 lakh crore from 2.3 lakh crore in 2025.
  • Production will go up from Rs. 2,30,000 crore in 2014-15 to Rs. 7,50,000 crore in 2025, jobs from 8.4 million to 30 million
  • The policy aims to increase direct domestic employment from the current 1.4 million to at least 5 million and indirect employment from the current 7 million to 25 million by 2025, thus providing additional employment to over 21 million people.

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