Budget 2024: Union Finance Minister Nirmala Sitharaman on Tuesday presented Union Budget 2024-25 and announced an internship scheme which will benefit one crore youths over the period of five years.
Announcing measures for promotion of manufacturing and services, Nirmala Sitharaman said the internship will be provided in the top 500 companies.
“Government to launch a comprehensive scheme to provide internship opportunities in top 500 companies to 1 crore youths in 5 years,” said Nirmala Sitharaman.
Sitharaman said that youth will gain exposure for a period of 12 months in real life business environments, varied professions and employment opportunities.
“An internship allowance of ₹5,000 will be provided per month. Whereas, one time assistance of ₹6,000 will be given,” the Finance Minister added.
The Finance Minister stated that companies will be expected to bear training costs and 10 per cent internship cost from CSR funds.
Reacting to the announcement, Congress leader Jairam Ramesh claimed that the Finance Minister has taken a leaf out of the INC’s Nyay Patra 2024, with its internship program clearly modelled on the INC’s proposed Apprenticeship Program that was called Pehli Naukri Pakki.
Further, the finance minister also said that the government will facilitate investment in a ready to plug-and-play industrial park with complete infrastructure in or near 100 cities in partnership with states and the private sector.
12 industrial parks will be sanctioned under the National Industrial Corridor Programme, said the Union Minister.
“Rental housing with dromedary type accommodation for industrial workers will be facilitated in PPP mode.”
In the Union Budget 2024-25, the government has identified nine priorities: Productivity and resilience in agriculture, employment and skilling, social justice, manufacturing & services, urban development, energy security, infrastrcuture, innovation R&D, next generational reforms.
