Union Budget 2024: FM Sitharaman Announces Major Internship Scheme for Youth with Monthly Allowance
During the presentation of Union Budget 2024, Finance Minister Nirmala Sitharaman unveiled a significant new scheme to provide internship opportunities for 1 crore youth across 500 top companies. Each intern will receive a monthly allowance of ₹5000 and a one-time assistance of ₹6000. This initiative aims to enhance employability and skill development among young Indians. Tune in for detailed coverage and analysis of this landmark announcement and its expected impact on the youth and job market.
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NewsTranscript
00:00Our government will launch a comprehensive scheme for providing internship opportunities
00:09in 500 top companies to 1 crore youth in 5 years.
00:16Internship allowance of 5,000 per month, 5,000 rupees per month, along with a one-time assistance
00:24of 6,000 rupees will be provided.
00:29Companies will be expected to bear the training cost and 10% of their internship cost from
00:35their CSR funds.
00:38Measures for promotion of manufacturing and services, internship in top companies.
00:45As the fifth scheme under Prime Minister's package, our government will launch a comprehensive
00:52scheme for providing internship opportunities in 500 top companies to 1 crore youth in 5
01:03years.
01:04They will gain exposure for 12 months to real-life business environment, varied professions and
01:20employment opportunities, and internship allowance of 5,000 per month, 5,000 rupees
01:27per month, along with a one-time assistance of 6,000 rupees will be provided.
01:36Companies will be expected to bear the training cost and 10% of their internship cost from
01:42their CSR funds.
01:45Measures for promotion of manufacturing and services, internship in top companies.
01:51As the fifth scheme under Prime Minister's package, our government will launch a comprehensive
01:59scheme for providing internship opportunities in 500 top companies to 1 crore youth in 5
02:10years.
02:12They will gain exposure for 12 months to real-life business environment, varied professions
02:26and employment opportunities, and internship allowance of 5,000 per month, 5,000 rupees
02:34per month, along with a one-time assistance of 6,000 rupees will be provided.
02:42Companies will be expected to bear the training cost and 10% of their internship cost from
02:49their CSR funds.
02:52Global context.
02:54The global economy, while performing better than expected, is still in the grip of policy
03:00uncertainties.
03:03Elevated asset prices, political uncertainties and shipping disruptions continue to pose
03:11significant downside risks for growth and upside risks to inflation.
03:18In this context, India's economic growth continues to be the shining exception and
03:26will remain so in the years ahead.
03:35India's inflation continues to be low, stable and moving towards the 4% target.
03:42Co-inflation, that is non-food and non-fuel, currently is 3.1%.
03:49Don't miss out.
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