Photo Credit: Sansad TV
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on Tuesday, unveiling an internship scheme aimed at benefiting one crore youths over the next five years.
As part of efforts to boost manufacturing and services, Sitharaman announced that internships would be offered in the top 500 companies.
“We will launch a comprehensive scheme to provide internship opportunities in the top 500 companies to one crore youths over 5 years,” Sitharaman declared.
Under the scheme, youths will gain exposure to real-life business environments and various professions over a 12-month period, offering employment opportunities.
“The internship will include a monthly allowance of ₹5,000, along with a one-time assistance of ₹6,000,” the Finance Minister added.
Sitharaman specified that companies will bear training costs and 10% of the internship expenses from CSR funds.
In response, Congress leader Jairam Ramesh drew parallels to INC’s Nyay Patra 2024, highlighting similarities with their proposed Pehli Naukri Pakki apprenticeship program.
Additionally, Sitharaman announced government initiatives to facilitate investment in plug-and-play industrial parks across 100 cities in collaboration with states and the private sector.
“As part of the National Industrial Corridor Programme, 12 industrial parks will be sanctioned,” she informed.
The budget also includes plans for rental housing in PPP mode tailored for industrial workers.
The Union Budget 2024-25 outlines nine key priorities: productivity and resilience in agriculture, employment and skilling, social justice, manufacturing and services, urban development, energy security, infrastructure, innovation R&D, and next-generation reforms.
