Finance Minister Nirmala Sitharaman has made a big announcement in the budget speech on employment. The government has said that government help will be given to the organizations providing employment. The Finance Minister has also announced to give the benefit of EPFO to 10 lakh youth. This will provide financial help to the employees. Not only this, the government has also announced that if any company gives jobs to the youth, then the first salary will be paid by the government. This step of the government will create lakhs of new jobs.
Money will come directly in EPFO account
The government has said that on the first job, 15 thousand rupees will be deposited directly in the EPFO account by the government. Not only this, the government will start 3 incentive schemes to promote employment. Not only this, the government has also said that to improve the skills of youth in big companies, 1 crore youth will be provided internship opportunities. This internship will be for 12 months. The intern will get 5 thousand rupees per month. After that those youth will get job opportunities in the top-500 companies of the country.
The government has said that it will spend 1 lakh crore rupees in the next 5 years to provide employment and skills. Apart from this, 2 lakh crore rupees will be spent by the government only to provide employment. The government’s target is to provide 4 crore jobs in the next 5 years.
Government’s focus on innovation
Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities to generate ample opportunities in the economy in the Union Budget 2024-25. These 9 priorities include productivity, employment, social justice, urban development, energy security, infrastructure, innovation and reform. Let us tell you that while presenting her seventh consecutive budget, Sitharaman said that the government is conducting a comprehensive research review to develop climate-friendly seeds.
He said that one crore farmers will turn to natural farming in the next two years. The minister said that vegetable production clusters will be promoted on a large scale to increase production. The government will release 109 new high-yielding, climate-friendly seeds for 32 agricultural and horticultural crops.
