FM Sitharaman Unveils Skilling and Internship Initiatives in Budget 2024
Finance Minister Nirmala Sitharaman's Budget Speech Highlights Youth Empowerment and Agri-Focus
The Impressive TimesNew Delhi July 23 2024 : In her Budget address today, Finance Minister Nirmala Sitharaman introduced significant measures aimed at youth empowerment and agricultural development. A new centrally-sponsored skilling scheme will train 20 lakh youth over the next five years, alongside a provision for 12-month internships for 1 crore youth in top 500 companies. Each intern will receive a monthly allowance of Rs 5,000 and a one-time assistance of Rs 6,000, with companies covering training costs and 12% of internship expenses.
Highlighting the government’s focus areas as poverty alleviation, women’s welfare, youth empowerment, and agricultural enhancement, Sitharaman allocated Rs 1.52 lakh crore towards agriculture and allied sectors. Additionally, the Budget includes provisions for financial support for higher education loans up to Rs 10 lakh within domestic institutions.
Regarding income tax reforms, officials suggest a potential rationalization of tax structures with expected cuts for lower income brackets to boost disposable incomes and stimulate consumption. Sitharaman emphasized the Budget’s commitment to nine key priorities, including agriculture productivity, employment, social justice, and infrastructure development, aiming for comprehensive economic growth and resilience.
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