Finance Minister Nirmala Sitharaman on 23 july 2024, said that in order to give job training to youth, the govt. will start an internship scheme to provide chance to 1 crore youth in top 500 companies in the next 5 years.
Finance minister suggest to the interns to get submission to real life environment an internship allowance will be provided of Rs 5000 monthly. she said, will bear training and 10% of training cost from their respective corporate social responsibility funds.The by law in Section 135 of the Companies Act 2013 make it mandatory for companies of a certain turnover and profitability to spend 2 % of their average net profit for the past 3 years on corporate social responsibility activities.
Finance Minister Nirmala Sitharaman in her Budget speech proposed the creation of employment of 4.1 crore youths in the next 5 years.
She said that Govt. has made an allotment of Rs 2 lacs crore, for skills youth so as to create job opportunities, sitharaman proposed Rs 1.48 crores, for 20 lacs youth will be skilled over a 5-years.
She announced a total of 1 thousand industrial training institute will be upgraded.
