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Successive Congress Govts at the Centre never incentivised job creation. They only incentivised capital investment by subsidising it by income-tax incentives like investment allowance(Sec 32A/32AC), investment deposit account(Sec 32AB) & subsidies
Mind you, India is labour abundant and capital scarce. Yet successive Congress Governments at the Centre gave industry perverse incentives to substitute labour with machinery. Not one section in Income-Tax Act was enacted to incentivise job creation
Which Govt first enacted a section in Income-Tax Act,1961 to give tax incentives to job creators? Hold your breath. It was the Vajpayee Govt which inserted #section80JJAA Deduction in respect of employment of new workmen vide Finance (No.2)Act,1998
