Government Unveils Ambitious Plan to Create 4.1 Crore Jobs and Boost Skilling Initiatives

Finance Minister Nirmala Sitharaman announced a plan to create 4.1 crore jobs and skill 20 lakh youth with a Rs 2 lakh crore allocation. Additional skilling efforts include upgrading 1,000 institutes and introducing internships in 500 companies.

Union Finance Minister Nirmala Sitharaman, in her Budget speech, unveiled an ambitious plan to create employment opportunities for approximately 4.1 crore youth over the next five years, allocating Rs 2 lakh crore to achieve this goal.

The finance minister also proposed a Rs 1.48 crore fund aimed at skilling citizens to generate job opportunities, with a target to skill 20 lakh youth over the same period. She announced plans to upgrade a total of 1,000 industrial training institutes.

Sitharaman proposed that a one-time wage would be provided to all first-time employees across all sectors, delivered through Direct Benefit Transfer (DBT). Additionally, the government plans to offer internship opportunities in 500 companies to one crore youth over five years. Interns will gain practical experience and receive a monthly allowance of Rs 5000, with companies covering training costs and 10 per cent from CSR funds.

The Finance Minister emphasized that employment, skilling, MSMEs, and supporting the middle class are key focus areas of this Budget.