Budget 2024: Internship opportunities to be presented to 1 crore youth in 5 years

The Finance Minister announced that an allowance of Rs 5,000 will be given to the interns while a one-time amount of Rs 6,000 will also be provided
Internship Opportunities for 1 Crore youth in 5 years
Internship Opportunities for 1 Crore youth in 5 years
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Finance Minister Nirmala Sitharaman announced during the budget presentation in the Lok Sabha today, Tuesday, July 23, that there shall be measures implemented to promote manufacturing and services.

Further, she added that under the fifth scheme of the Prime Minister's package, the youth will be provided with great internship opportunities.

Internship opportunities for 1 crore youth

With the implementation of such a programme, in the next five years, one crore youth will be gaining internship opportunities in the top 500 companies, where they will gain exposure for 12 months in active business environments, in varied professions, and many employment opportunities to explore from.

"Our government will launch a comprehensive scheme for providing internship opportunities in 500 top companies to one crore youth in five years. They will gain exposure for 12 months in a real-life business environment," the finance minister declared.

Furthermore, such internship opportunities will reward their labour, as the FM stated that an internship allowance of Rs 5,000 per month will be granted to the interns, along with one-time assistance of Rs 6,000 will also be provided.

Companies will be liable to bear the training cost, and ten per cent of their internship costs will be borne from the Corporate Social Responsibility (CSR) funds.

"An internship allowance of Rs 5,000 per month, along with a one-time assistance of Rs 6,000 will be provided. Companies are expected to bear the training costs and ten per cent of their internship costs from their CSR funds," stated the finance minister.

Development of industrial parks

In partnership with the state, the private sector companies will be invited to establish industrial parks in more than 100 cities all over India, to change the model of industrial development.

In addition to this, 12 industrial parks under the National Industrial Corridor Development programme, also will be sanctioned, she declared.

During the Budget presentation in the Lok Sabha on Tuesday, July 23, Finance Minister Nirmala Sitharaman announced several schemes aimed at upskilling the country's youth and bridging the gap between industry demands and the existing skill sets.

This, thus, marks her seventh consecutive budget presentation and surpasses the previous record held by former Prime Minister Morarji Desai.

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