Budget 2024: Internship scheme with ₹5,000 monthly allowance announced for one crore youth
The Hindu
Union Finance Minister Nirmala Sitharaman announces internship scheme for one crore youth in top 500 companies over five years.
Union Finance Minister Nirmala Sitharaman on July 23 said that in order to provide on-job training to youth, the government will launch an internship scheme to provide opportunities to one crore youth in top 500 companies over the next five years.
Ms. Sitharaman proposed that for the interns to get exposure to real life environment an internship allowance will be provided of ₹5,000 per month.
Also Read: Budget 2024 Live updates
Companies facilitating the internship, she said, will bear training and 10% of training cost from their respective Corporate Social Responsibilty funds.
The rules 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 three years on corporate social responsibility activities.
Union Finance Minister Sitharaman in her Budget speech proposed the creation of employment of about 4.1 crore youth over the next five years.
Towards it, the Finance Minister said that Government has made an allocation of ₹2 lakh crore. Similarly, for skilling youth so as to generate job opportunities, she proposed ₹1.48 crore. 20 lakh youth will be skilled over a five-year period.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.