Budget 2024: How will it benefit the youth of India?
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Union Budget 2024 was presented on July 23, 2024.
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Empowering youth
Budget 2024 has introduced skill development schemes aimed at 4.1 crore youth under employment programmes over the next 5 years.
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Budget
Rs 2 lakh crore will be allocated for this initiative.
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Training
The new initiatives aim to provide skill development training for youth, in collaboration with state governments and industries.
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Internships
It was announced in Budget 2024 that 1 crore youth will be offered internships at 500 leading companies. They will also be provided a monthly stiped of Rs 5000.
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Financial benefits
First-time employees will also receive financial benefits from the government.
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Various sectors
It was announced that employment opportunities will be provided in the construction sector to 30 lakh youth.
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Loans
The government will offer financial assistance of Rs 10 lakh as loans to youth pursuing higher education to ensure they don’t face financial obstacles.
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Model Skill Loan Scheme
Model Skill Loan Scheme will be revised to boost employment.