Union Finance Minister Nirmala Sitharaman in her Budget speech proposed the creation of employment of about 4.1 crore youth over the next five years.
Towards it, the finance minister has allocated Rs 2 lakh crore.
Similarly, she proposed Rs 1.48 crore to skilling the citizens to generate job opportunities. 20 lakh youth will be skilled over five years.
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 for one crore youth in five years.
She said interns will get exposure to real-life environments and an allowance of Rs 5000 per month.
The companies will bear training and 10 per cent of training costs from CSR funds.
Sitharaman said employment, skilling, MSME, and middle class are key focus areas of this Budget.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
