Various Employment and Internship related schemes in Budget 2024!

The FM has announced many employment Schemes in Budget 2024. This video elaborates on the same.
Out of the 8 schemes in relation to job creation,
the first 3 are Employment Linked Incentive Schemes
the next 2 are in relation to upskilling and internship
1 is to boost women in workforce
and last 2 are in relation to financial assistance towards upskilling and higher education.
* Employment Linked Incentive Scheme 1: First timers
- First time employees entering workforce in all formal sectors
- registered under EPFO
- Government will do direct benefit transfer of 1 minth salary in 3 instalments upto a limit of Rs. 15000
- Applicable for salary upto Rs. 1 lakh per month
- 210 lakh youth to benefit
* Employment Linked Incentive Scheme 2: Job creation in Manufacturing
- Incentive for additional employment in Manufacturing sector, towards employment of first time employees
- Incentive to both employer as well as employee, for contribution towards EPFO in specified scale for first 4 years
- Expected to benefit 30 lakh youth and their employers
* Employment Linked Incentive Scheme 3: Support to Employers
- Employer focussed Scheme
- Incentive for additional employment in all sectors
- Eligibility: Salary upto Rs. 1 lakh per month
- Government will reimburse employers upto Rs. 3000 per month for 2 years towards EPFO contribution of additional employee
- Expected to incentivize additional employment for 50 lakh persons.
* Scheme 4: Skilling Programme
- Skill Development in collaboration with state government and industry
- 1000 ITIs (Industrial Training Institutes) will be upgraded with hub and spoke arrangement with outcome orientation
- Course content and design as per requirement of skill needs of industry
- New content to be designed for emerging needs
- 20 lakh youth to be trained over 5 year period
* Scheme 5: Internship Opportunities
- 12 month internship at top 500 companies for exposure to real life business environment
- Internship allowance of Rs. 5000 per month and one time assistance of Rs. 6000 per month will be provided
- Companies to bear training cost + 10% of internship cost from CSR funds
- Will benefit 1 crore youth in 5 years
* Scheme 6: Better Facilitation for women in workforce
- Setting up working women hostels in collaboration with industry
- Establishing creches
* Scheme 7: Skilling Loans
- Model Skill Loan Scheme to be revised to facilitate loans upto Rs. 7 lakhs
- Guarantee to be provided from a government promoted fund
- Expected to help 25000 students every year
* Scheme 8: Education Loans
- If any youth is not eligible for any benefit under government schemes and policies, then education loans to be provided upto Rs. 10 lakh for higher education in domestic institution
- E-vouchers to be given directly to 1 lakh students every year for annual interest subvention of 3% of loan amount.

[@ashwinikaveeshwar]

Very informative, thank you

[@anjanmk]

Very nice information and very well presented. Thanks for this video

[@nagarajubandi3131]

Very👍 informative thank you🙏 so much madam

[@soujanyanayak1703]

Most waited 🎉
Thank you so much for enlightenment on topics of budget and allocation of money by government in simple manner

[@ajaykumar-banker]

Very well presented. Could you do a video on taxation on foreign shares please

[@ragavireviewstamil]

I have been sacked despite having three degree and the reason was due to lack of emotional maturity just five weeks into the job. This will really help me mam. Thankyou.

[@nagarajubandi3131]

Madam if possible only please make a video internship opportunities for graduates who are physically challenged person job opportunity in Visakhapatnam please🙏🙏🙏
Madam i am physically challenged person failed in cma inter. Searching for very small desk job opportunity in Visakhapatnam