India’s Union Finance Minister Nirmala Sitharaman unveiled the Budget 2024 on Tuesday, highlighting a significant initiative aimed at empowering the nation’s youth. The government announced a program to provide internship opportunities to a staggering one crore young individuals across 500 companies within the next five years.
This initiative, designed to bridge the gap between academia and the professional world, will provide interns with valuable exposure to real-life work environments. Each intern will receive a monthly allowance of Rs 5000, further supporting their financial well-being during the program.
To ensure the success of this ambitious plan, participating companies will shoulder the responsibility of training the interns and contribute 10 per cent of the training cost from their Corporate Social Responsibility (CSR) funds.
The Finance Minister emphasized that employment generation, skill development, the well-being of Micro, Small, and Medium Enterprises (MSMEs), and the welfare of the middle class are key focal points of this year’s budget. The internship program stands as a testament to the government’s commitment to fostering a skilled and empowered workforce, contributing to India’s continued economic growth.
