Budget 2024: Rs 2 lakh crore allocated to employ 4.1 crore youth over next 5 years

NEW DELHI: Union Finance Minister Nirmala Sitharaman, in her Budget speech, proposed creation of employment for about 4.1 crore youth over the next five years. Towards this, the Finance minister has made an allocation of Rs 2 lakh crore.

Similarly, for skilling the citizens so as to generate job opportunities, she proposed Rs 1.48 crore. Twenty lakh youth will be skilled over a five-year period and a total of 1,000 industrial training institutes will be upgraded, she announced.

#WATCH | Presenting Union Budget, Finance Minister Nirmala Sitharaman says, “The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000.” pic.twitter.com/v95f2PKTwV

— ANI (@ANI) July 23, 2024

She proposed that a one-time wage would be provided to all first-time employees in all sectors. The incentive for first-timers would be provided through Direct Benefit Transfer (DBT)

The Finance Minister said that the government will launch internship opportunities in 500 companies to one crore youth in five years. Interns will get exposure to real-life environment and an allowance of Rs 5000 per month, she said. The companies will bear training and 10 per cent of training cost from CSR funds.

Nirmala Sitharaman said employment, skilling, MSME and middle class are among key focus areas of this Budget. (ANI)