Union Budget 2024: Govt Promotes Development Of Employment And Skilling Initiatives | ABP News

Taking forward the theme of the first full-year Budget of the newly elected government, the Finance Minister announced Prime Minister’s package of 5 schemes and initiatives. The package aims to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of Rs. 2 lakh crores.  “This year, I have made a provision of Rs.1.48 lakh crores for education, employment and skilling”, she added.

The Finance Minister announced employment-oriented skilling initiatives under the PM's economic package. These programs will work on EPFO enrollment, specifically targeting newly employed individuals. New entrants to the formal workforce will receive a one-month salary as an incentive. This direct benefit transfer of up to Rs 15,000 will be disbursed in three phases. Eligibility for this benefit is set at a monthly salary of Rs 1 lakh, aiming to benefit approximately 210,000 young adults.