Budget 2024: Schemes worth Rs 2 lakh crore for job creation, skilling and internship; move to benefit 41 million youth

economictimes.indiatimes.com:

jobs and empower youth with skilling, Finance Minister Nirmala Sitharaman announced a Rs 2 lakh crore package under the Prime Minister scheme to incentivise job creation in the country, skill two million youth, provide education loan of up to Rs 10 lakh for higher education in domestic institutions and enable internship opportunities to 10 million youth over next five years.

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“Turning attention to the full year and beyond, in this Budget, we particularly focus on employment, skilling, MSMEs and the middle-class. I am happy to announce the Prime Minister’s package of five schemes and initiatives to facilitate employment, skilling and other opportunities to 4.1 crore youth over a give-year period with a central outlay of Rs 2 lakh crore,” FM Sitharaman said while presenting the Budget 2024-25 on Tuesday.

As per the announcement, the government will provide one-month wage to all persons newly entering the formal workforce sector under the EPFO.

This employment incentive for first-timers will benefit 21 million youth. A direct benefit transfer (DBT) of one month’s salary will be provided in three installments and the eligibility limit for this benefit will be a salary of Rs 1 lakh per month.

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