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

Union Finance Minister Nirmala Sitharaman in her Budget speech proposed creation of employment of about 4.1 crore youth over the next five years.

Towards it, 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. 20 lakh youth will be skilled over a five-year period.

A total of 1,000 industrial training institutes will be upgraded, she announced.

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 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.

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

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