Union Finance Minister Nirmala Sitharaman will introduce the Budget 2024 today, providing Rs 1.48 lakh crore for education, employment, and skilling.
According to the Finance Minister, the Union government will offer a one-month PF contribution as an incentive to 30 lakh young people who are starting their careers. It is expected to benefit over 3 million youths entering the job market.
Over the next five years, the Centre has developed a plan to create employment possibilities for almost 4.1 crore youth. This programme has been given Rs 2 lakh crore by the government.
The Finance Minister also further announced that they will be providing youths with internships for their professional and career growth.
"Over the course of five years, the plan will provide internships at 500 leading organisations to one crore students," said Finance Minister Nirmala Sitharaman. She announced that students will receive ₹5,000 per month and a one-time assistance payment of ₹6,000.
The corporations will be required to provide the training and 10% of the internship costs through their CSR financing.
Similarly, she recommended Rs 1.48 crore to skill citizens and create work opportunities. Over the course of five years, 20 lakh young people will receive training. A total of 1,000 industrial training institutes would be modernised, FM stated.
Additionally, the government is also working to increase the number of women in workforce. For this, the government is planning to set up working women hostels.
