Union Budget 2024: Nirmala Sitharaman Announces Schemes for Youth

Producer: Priyanka Das Editor: Nisha Dubey

In a move that will benefit 2.1 crore youth, Finance Minister Nirmala Sitharaman announced special schemes to benefit the country's youth. Read on to find out more.

[{"selector":"#anim-75b9ab7b-f919-4ab8-8a40-7637a2c7bab4","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ba2eabf-8379-4cd1-9629-0c14ec03515d","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2f16067c-8acd-4a8c-bc23-122497c18f69","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-50c7cc0f-8e7a-4681-94a8-7bf453141c52","keyframes":{"transform":["translate3d(0px, 133.92378%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

For new job entrants: A direct benefit transfer (DBT) of one month’s salary, up to Rs 15,000, will be provided. The eligibility limit for this benefit will be a salary of Rs 1 lakh per month.

[{"selector":"#anim-74dc1811-0b42-476a-a2f6-b24b64aae0a6","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-437c1867-0996-409f-948e-0d524bcf6f18","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b12ab0ea-32a2-4694-b118-f3f2b3b43936","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fb0b6963-cf32-4cbd-b5ff-3b1de8570145","keyframes":{"transform":["translate3d(0px, 143.31178%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Internship scheme: The government’s scheme is aimed at giving interns exposure to real-life business. Interns will be given Rs 5,000 per month along with one-time assistance of Rs 6,000.

[{"selector":"#anim-20d85f43-d6b6-4671-a3a3-4c6295fd3cac","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d032e7c8-a95f-4251-975b-06739332f0ce","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38bcf928-954b-4719-871e-4f06e4153ca4","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3fcf7c6e-8e8f-42df-9994-73d1f3ecbc17","keyframes":{"transform":["translate3d(0px, 136.51564%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Manufacturing jobs: The government will also provide incentive of specified scale directly to employee and employer in first four years of employment to employees entering manufacturing jobs. This will benefit 30 lakh youth and employers.

[{"selector":"#anim-cbc4bf96-dc48-4fef-ae35-dc76286a56d9","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9056fde9-06e1-4caa-a07c-26253ffde680","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aae81d97-208c-4dc6-a48b-e59af02fefe7","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-78a6c750-4b9d-4bb4-ac8f-7fb57a515314","keyframes":{"transform":["translate3d(0px, 112.06827%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

[{"selector":"#anim-81411369-3d2a-4148-bad6-5f090aea2cb8","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5c736590-cdfd-48d3-821f-f6039fb61e8a","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aab6d391-127c-46b4-8442-14dc9569d201","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6c73d8a4-af80-42bd-9d70-f64f9a2ee4c2","keyframes":{"transform":["translate3d(0px, 124.77153%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Support to employers: As support to employer, additional employment in all sectors within a salary of 1 lakh/month will be provided Rs 3,000 per month for 2 years to cover EPFO charges. This will incentivise additional employment of upto 50 lakh persons.

Skills: A total of 20 lakh youth will be skilled over 5 years.

[{"selector":"#anim-7e0dbd82-f552-4642-879d-aa447380b12b","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ea4a1ce2-3c34-44fc-b2a8-05b219983395","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7017d895-f248-4d99-b3c5-1c0863192772","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e4a4d345-482a-47d1-8317-a451043298e0","keyframes":{"transform":["translate3d(0px, 278.79813%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Education loans: Financial support of up to Rs 10 lakh for higher education in domestic institutions will be provident. There will be an annual interest subvention for 3 percent.

[{"selector":"#anim-3b9c05ae-4d8d-416f-a7fd-e8886578b1b8","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c1fd7602-b684-4a16-83f2-912a3e07ec36","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bb3cfc1f-1491-4b11-a84d-b6c5e3b2209a","keyframes":{"opacity":[0,1]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9588cfb1-25ef-4979-9d2b-7919aae8cdc0","keyframes":{"transform":["translate3d(0px, 124.24671%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

[{"selector":"#anim-e1f264f6-b0a0-418e-be16-92d9166393f4","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4aded36d-76a1-487f-91ab-ee1474ae063e","keyframes":{"transform":["translate3d(0px, 86.15521%, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e783e42b-1042-4cad-889f-cb9bc4426ca9","keyframes":{"opacity":[0,1]},"delay":100,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f5b2e398-d467-42e6-bc2c-2ae1488b5d96","keyframes":{"transform":["translate3d(109.51009%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]