Boosting Youth Employment: Budget 2024-25's Forward-Thinking Initiatives

HR and Ed-tech experts praised the 2024-25 Budget for its focus on skilling, internships, and job creation. The Budget aims to address workforce needs and boost employment for youth. Key provisions include Direct Benefit Transfer (DBT), significant outlays for education and skilling programs, and financial support for higher education loans.

HR and Ed-tech industry experts on Tuesday lauded the budget proposals on skilling, internships, and job creation, acknowledging their potential to meet the urgent need for a skilled workforce and enhance youth employment.

Describing the 2024-25 Budget presented by Finance Minister Nirmala Sitharaman as a forward-thinking blueprint aligned with the vision of 'Viksit Bharat', experts highlighted key provisions aimed at bolstering formal employment through incentives.

Direct Benefit Transfer (DBT) of up to Rs 15,000 is expected to make formal employment more appealing, driving industries to hire new talent. The budget's Rs 2 lakh crore allocation targets 4.1 crore youth, with Rs 1.48 lakh crore earmarked for education, employment, and skilling initiatives, signaling a transformative approach to the country's workforce development.

(With inputs from agencies.)