Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary at Parliament House on July 23, 2024.<\/p>\n
The Union Budget 2024-25 presented in Parliament by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on Tuesday (July 24, 2024) has a clear focus on employment, skilling, and manufacturing.\u00a0 Prime Minister\u2019s Package of 5 Schemes and Initiatives for employment, skilling and other opportunities for 4.1 crore youth over a 5-year period. 4. New centrally sponsored scheme for Skilling Focus\u00a0on\u00a0Skill\u00a0Development\u00a0and\u00a0Jobs<\/b><\/p>\n <\/span><\/p>\n Reiterating the government\u2019s commitment to employment and self-employment, the Prime Minister noted the success of the PLI scheme and highlighted the Employment Linked Incentive scheme which will create crores of jobs. Under the scheme, the first salary of the first job of a youth will be borne by the government. He also mentioned provisions for higher education and the scheme for internships for 1 crore youth.\u00a0 ‘New Opportunities, New Energy’<\/b><\/p>\n <\/span><\/p>\n Asserting the commitment to make India the manufacturing hub of the world, Prime Minister Modi emphasised the links of MSME with the middle class of the country and its employment potential for the poor segment. To create big strength for small industries, the Prime Minister informed about the new scheme announced in the Budget that will increase the ease of credit for MSMEs. Prime Minister Modi also highlighted that a big focus of this Budget is the nation’s farmers. After the world\u2019s biggest grain storage scheme, now Vegetable Production Clusters are being introduced which will help both the farmers and the middle class. <\/span><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":" Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary at Parliament House on July 23, 2024. The Union Budget 2024-25 presented in Parliament by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on Tuesday (July 24, 2024) has a clear focus on employment, skilling, and manufacturing.\u00a0 \u00a0 The Budget includes targeted programmes for employment … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india"],"_links":{"self":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts\/1256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/comments?post=1256"}],"version-history":[{"count":0,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts\/1256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/media\/1257"}],"wp:attachment":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/media?parent=1256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/categories?post=1256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/tags?post=1256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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The Budget includes targeted programmes for employment and skilling; it also outlines key priorities for a ‘Viksit Bharat’ (Developed India ‘.
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Package\u00a0of\u00a0PM\u2019s\u00a0five\u00a0schemes\u00a0for\u00a0Employment\u00a0and\u00a0Skilling<\/b><\/p>\n
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1. First Timers: One-month salary of up to `15,000 to be provided in 3 instalments to first-time employees, as registered in the EPFO.
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2. Job Creation in manufacturing: Incentive to be provided at specified scale directly, both employee and employer, with respect to their EPFO contribution in the first 4 years of employment.
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3. Support to employers: Government to reimburse up to `3,000 per month for 2 years towards EPFO contribution of employers, for each additional employee.<\/p>\n
* 20 lakh youth to be skilled over a 5-year period.
* 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements.
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5. New Scheme for Internship in 500 Top Companies to 1 crore youth in 5 years
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Nine Budget Priorities in pursuit of \u2018Viksit Bharat\u2019:<\/b>
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1. Productivity and resilience in Agriculture.
2. Employment & Skilling.
3. Inclusive Human Resource Development and Social Justice.
4. Manufacturing & Services.
5. Urban Development.
6. Energy Security.
7. Infrastructure.
8.Innovation, Research & Development.
9. Next Generation Reforms.<\/p>\n
<\/b> \u201cUnion Budget 2024-25 will empower every section of society\u201d, Prime Minister Narendra Modi said in his remarks after the Union Budget 2024-25 was presented.
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Noting the emergence of a neo-middle class after 25 crore people were lifted out of poverty, the Prime Minister said that this budget adds continuity to their empowerment and provides countless employment opportunities. \u201cThis Budget brings a new scale to education and skill development\u201d, he said.\u00a0<\/p>\n
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\u201cWorking in the top companies under the scheme, the young interns will find new avenues of possibilities,” Prime Minister Modi said.\u00a0<\/p>\n
<\/b> Prime Minister Modi also underlined the Budget\u2019s potential for being a catalyst for making India the third largest economy in the world and for laying the strong foundation for the Viksit Bharat.\u00a0
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\u201cToday’s budget has brought new opportunities, new energy, new employment and self-employment opportunities. It has brought better growth and a bright future,” he remarked.<\/p>\n
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\u201cThe announcements in the Budget will take manufacturing and exports to every district\u201d, he said, \u201ce-Commerce, export hubs and food quality testing will give new momentum to One District-One Product programme.\u201d<\/p>\n
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\u201cIt is the need of the hour for India to become self-reliant in the agricultural sector. Therefore, measures have been announced to help farmers increase the production of pulses and oilseeds,\u201d he emphasised.<\/p>\n