Union Budget 2024-25: Major Internship Program for 1 Crore Youth
Finance Minister Nirmala Sitharaman unveiled a significant initiative in the Union Budget 2024-25, aimed at creating internship opportunities for 1 crore young individuals over the next five years. This ambitious scheme will offer placements in 500 leading companies.
Under the plan, interns will receive a monthly allowance of ₹5,000, along with a one-time assistance of ₹6,000. Additionally, companies are expected to cover the training expenses and contribute 10% of the internship costs from their corporate social responsibility (CSR) funds.
also read : Union Budget 2024: Nirmala Sitharaman Announces Major Employment Schemes for Youth
As part of broader employment measures, the government will also subsidize companies by providing ₹3,000 per month to cover their EPFO contributions for up to two years for each new hire. Furthermore, all new employees will receive a wage benefit of up to ₹15,000 for their first month, with the scheme set to assist 2.1 crore youths. This support will be distributed in three installments, with eligibility based on a maximum monthly salary of ₹1 lakh.
Yes, I want this internship
Its very use full and meaningful for my better future career