-1721725400020.webp)
- By Nidhi Giri
- Tue, 23 Jul 2024 02:37 PM (IST)
- Source:JND
Prime Minister Narendra Modi on Tuesday highlighted how the Union Budget 2024, presented by Finance Minister Nirmala Sitharaman has focussed on the empowerment of the new middle class, ensuring unlimited opportunities for the youth with various schemes and programs. The Prime Minister mentioned how the budget would help women, small businessmen and MSMEs for achieving the government's vision of a "Viksit Bharat" or Developed India by 2047.
PM Narendra Modi said, "In the last 10 years, 25 crore people have come out of poverty. This budget is for the empowerment of the new middle class. The youth will get unlimited opportunities from this budget. Education and skill will get a new scale from this budget. This budget will give power to the new middle class...This budget will help women, small businessmen, MSMEs..."
"We will together make India a global manufacturing hub. The MSME sector of the country is connected to the middle class. The ownership of the MSME sector is with the middle class. This sector provides maximum employment to the poor...," PM Modi added.
Stating that this budget will give power to every section of the society, PM Modi noted how youth from villages will now be able to work in the country's top companies under the apprenticeship program.
"In this Budget, the government has announced ‘Employment Linked Incentive scheme. This will help generate many employment opportunities. Under this scheme, the government will give the first salary to those who are newly entering the workforce. Youth from villages will be able to work in the country's top companies under the apprenticeship program,” PM Modi said.
Drawing attention to the development in the Northeastern region, PM Modi said, "Today, Defence exports are at a record high. Many provisions have been made in this Budget to make the defence sector self-reliant. Focus also laid on the tourism sector in this Budget...A decision has also been taken on the reduction of tax and TDS rules are also simplified...We are speeding development in the eastern region by the way of construction of highways and water and power projects..."
Union Budget 2024: Upgrades In The Education Sector
FM Nirmala Sitharaman announced the launch of an internship scheme aimed at providing opportunities to 1 crore youth in the top 500 companies over the next five years. While presenting the Union Budget 2024-25, Sitharaman announced that the new internship scheme will provide a monthly allowance of Rs 5,000 and a one-time assistance of Rs 6,000.
The companies hosting the internships will cover the training costs and utilise their Corporate Social Responsibility (CSR) funds for this purpose. Interns will gain real-world experience and receive a monthly allowance, she said.
In her speech, the Finance Minister outlined nine key priorities in the Union Budget 2024-25 aimed at generating job opportunities in the Indian economy. These priorities are productivity, employment, social justice, urban development, energy security, infrastructure, innovation, and reforms.
Union Budget 2024: Major Employment And Skilling Schemes
The Finance Minister announced a significant PM Package comprising five programs designed to enhance employment and skilling, with a total allocation of Rs 2 lakh crore. Of this, Rs 1.48 lakh crore has been specifically designated for education, employment, and skilling initiatives.
Union Budget 2024: 20 Lakh Youth To Be Skilled Over Five Years
Emphasising the government's dedication to advancing skill development, Sitharaman announced that the new initiatives will train 20 lakh youth over the next five years. This effort is expected to make a substantial impact on the nation’s workforce by equipping young individuals with essential skills for success in various industries.