Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman made a big announcement in the budget speech regarding employment. The government has said that state aid will be provided to institutions providing employment. The Finance Minister also announced that she will provide EPFO benefits to 10 lakh youth. With this, the employees will be able to get financial assistance. Not only this, the government has also announced that if any company provides employment to the youth, the first salary will be paid by the government. This move by the government will create thousands of new jobs.
The money will go directly to the EPFO account
The government has said that on the first job, the government will deposit Rs 15,000 directly in the EPFO account. Not only this, the government will launch three incentive schemes to promote employment. Not only this, the government has also said that to enhance the skills of youth in big companies, internship opportunities will be provided to 1 million youth. This internship will be for a duration of 12 months. The intern will be given Rs 5,000 per month. After that, such youth will get job opportunities in the top 500 companies of the country.
The government has said that it will spend Rs 1 lakh crore in the next five years to provide employment and skills. Apart from this, the government will spend Rs 2 lakh crore solely to provide employment. The government aims to provide 4 million jobs in the next 5 years.
The government’s focus on innovation
Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 to create broad opportunities in the economy. These nine priorities include productivity, employment, social justice, urban development, energy security, infrastructure, innovation and reform. Let us tell you that while presenting her seventh consecutive budget, Sitharaman said that the government is undertaking a large-scale research review to develop climate-friendly seeds.
He said that in the next two years, one million farmers will switch to natural farming. The minister said that large-scale vegetable production complexes will be promoted to increase production. The government will launch 109 new high-yield and climate-resilient seeds for 32 agricultural and horticultural crops.
