In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman announced the allotment of Rs 1.48 lakh crore for the initiatives to enhance the sectors of education, skilling, and employment. Financial support up to Rs 10 lakh will be given to students to pursue education in India.
Sitharaman stated in the Budget presentation, “We particularly focus on employment, skilling MSMEs, and supporting the middle class. I’m happy to announce the Prime Minister’s package of five schemes and initiatives to facilitate employment, skilling, and other opportunities for 4.1 Cr youth over a five-year period.”
She said that employment and skilling remain two of the top nine priorities of the government, adding, “This focus on education and skilling can give a boost to the country’s ed-tech sector, which is plagued by several challenges.”
The scheme would potentially skill 20 lakh youth over the next five years and also provide internships to over one crore youth across 500 companies with one-time assistance of Rs 6000 and the stipend being Rs 5000.
