UnionBudget2024
Union Budget announces paid internship for 1 crore youth in top 500 companies
With an eye on skilling and employment generation, the Modi government will launch a comprehensive scheme for providing internship opportunities for youths in top companies. This will be the 5th scheme under the Prime Minister’s package.
While presenting the Union Budget 2024-25 in Parliament Tuesday, Union Finance Minister Nirmala Sitharaman announced that the scheme will provide internship opportunities in 500 top companies to one crore youth in 5 years. They will gain exposure for 12 months to real-life business environments, varied professions and employment opportunities, she said.
An internship allowance of Rs 5,000 per month along with a one-time assistance of Rs 6,000 will be provided to the youth.
Companies will be expected to bear the training cost and 10 percent of the internship cost from their CSR funds, the Finance Minister added.
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