Govt to Launch Massive Internship Scheme for Youth: Sitharaman

Finance Minister Nirmala Sitharaman announced a new internship program aimed at providing one crore youth with opportunities in top 500 companies. The scheme includes a monthly allowance and is part of a broader plan to create 4.1 crore jobs and skill 20 lakh youth over five years. (ANI)

Union Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive internship scheme aimed at providing on-job training to one crore youth in the next five years. The initiative will offer opportunities in the top 500 companies across the country.

Addressing the parliament, Sitharaman revealed that the internship program will include an allowance of Rs 5000 per month for each intern to expose them to real-life working environments. The scheme mandates companies to cover training expenses, partially funded through their Corporate Social Responsibility (CSR) budgets.

Sitharaman proposed generating employment for about 4.1 crore youth over the next five years with a Rs 2 lakh crore allocation. Additionally, Rs 1.48 crore will be earmarked for skilling 20 lakh youth, and 1,000 industrial training institutes will be upgraded. A one-time wage incentive for first-time employees through Direct Benefit Transfer (DBT) was also announced. Sitharaman highlighted employment, skilling, MSMEs, and the middle class as key budget focus areas. (ANI)