Finance Minister Nirmala Sitharaman today announced that the government will give one-month’s salary to all the new employees entering the workforce. The amount will be provided to the employees as Provident Fund contribution.
“The scheme is meant for all persons entering the workforce in all sectors. It will benefit 210 lakh youths,” Ms Sitharaman said while presenting the Budget in the parliament.
Discontent over job opportunities was seen as a key reason for Prime Minister Narendra Modi’s party, the BJP, failing to win a majority on its own in the general elections, and returning to power only with the support of allies.
While presenting the Union Budget for 2024-25, the Finance Minister announced three employment-linked schemes.
She announced that working women hostels will be set up in the country to promote women’s participation in the workforce.
She added that the government will provide funds to the private sector, domain experts and others for developing climate-resilient seeds.
