New Delhi: The first full budget presentation of the third Narendra Modi government has begun. In her budget speech, Finance Minister Nirmala Sitharaman said that India’s economic development is a model for the world. Minister Nirmala Sitharaman stated that 4 crore youth will get employment within 5 years. The Finance Minister said that special attention has been given in the budget to employability, MSME and middle class.
She also stated that she is happy to announce the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth. The Finance Minister also said that Pradhan Mantri Garib Kalyan Yojana has been extended for 5 years.
The Finance Minister also announced an allocation of Rs 1.48 lakh crore for education, employment and skill development. The budget also says that the government will start more schemes related to employment opportunities next year. One month’s PF allocation will be given to 30 lakh youth entering the labor market.
Priority will be given to increasing the participation of women in the labor sector. Hostels will be established to organize special skill programs for women.Additional employment opportunities will be provided in all sectors. The government will reimburse employers up to Rs 3,000 per month for two years for each additional employee’s EPFO contributions. This route aims to provide additional employment opportunities to 50 lakh people.
Finance Minister Nirmala Sitharaman said that the government has nine priorities in the budget. These are agricultural productivity, employment and capacity development, holistic development of individuals and communities and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation – research – development.
