New Delhi: Finance Minister Nirmala Sitharaman introduced a revolutionary scheme to boost youth employment by providing internship opportunities in 500 top companies to 1 crore individuals over five years. The scheme offers an internship allowance of Rs 5,000 per month and a one-time assistance of Rs 6,000 to participating youths. Sitharaman emphasized that this initiative, as the 5th scheme under the Prime Minister’s package, aims to expose youths to real-world business environments and various job opportunities. Companies will cover the training expenses and 10% of the internship costs from their CSR funds, as mandated by the Companies Act 2013.
Addressing the importance of skilling and job creation for the youth, this scheme is a significant step towards empowering the younger generation and preparing them for the workforce.