Budget 2024: 2 Lakh Crore Allocation To Employ 4.1 Crore Youth Over The Next 5 Years
Union Minister Nirmala Sitharaman in her budget speech has proposed employment opportunities for 4.1 crore youth over the next 5 years. Moreover, Rs 2 Lakh crore has been allocated in this regard.
Additionally, the Finance minister also proposed Rs 1.48 crore to skill the citizens to generate more job opportunities. She also added through this, 20 lakh youth will be skilled over five years. A total of 1,000 industrial training institutes will be upgraded, she announced.
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About this, Sitharaman said, “I am happy to announce the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling, and other opportunities for 4.1 crore youth over five years with a central outlay of ₹2 lakh crores.”
“This year we have made a provision of ₹1.48 lakh crores for education, employment, and skilling…,” the minister said.
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She proposed in her speech 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 for one crore youth in five years. Interns will gain exposure to real-life environments and receive an allowance of Rs 5000 per month. The companies will bear the training costs, with 10% of these costs covered by CSR funds.
