Union Budget 2024-25 will empower every section of society, says Prime Minister Modi
The Union Budget 2024-25 presented in Parliament by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on Tuesday (July 24, 2024) has a clear focus on employment, skilling, and manufacturing. 
 
The Budget includes targeted programmes for employment and skilling; it also outlines key priorities for a 'Viksit Bharat' (Developed India '.
 
Package of PM’s five schemes for Employment and Skilling

Prime Minister’s Package of 5 Schemes and Initiatives for employment, skilling and other opportunities for 4.1 crore youth over a 5-year period.
 
1. First Timers: One-month salary of up to `15,000 to be provided in 3 instalments to first-time employees, as registered in the EPFO.
 
2. Job Creation in manufacturing: Incentive to be provided at specified scale directly, both employee and employer, with respect to their EPFO contribution in the first 4 years of employment.
 
3. Support to employers: Government to reimburse up to `3,000 per month for 2 years towards EPFO contribution of employers, for each additional employee.

4. New centrally sponsored scheme for Skilling
* 20 lakh youth to be skilled over a 5-year period.
* 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements.
 
5. New Scheme for Internship in 500 Top Companies to 1 crore youth in 5 years
 
Nine Budget Priorities in pursuit of ‘Viksit Bharat’:
 
1. Productivity and resilience in Agriculture.
2. Employment & Skilling.
3. Inclusive Human Resource Development and Social Justice.
4. Manufacturing & Services.
5. Urban Development.
6. Energy Security.
7. Infrastructure.
8.Innovation, Research & Development.
9. Next Generation Reforms.

Focus on Skill Development and Jobs

 “Union Budget 2024-25 will empower every section of society”, Prime Minister Narendra Modi said in his remarks after the Union Budget 2024-25 was presented.
 
Noting the emergence of a neo-middle class after 25 crore people were lifted out of poverty, the Prime Minister said that this budget adds continuity to their empowerment and provides countless employment opportunities. “This Budget brings a new scale to education and skill development”, he said. 

Reiterating the government’s commitment to employment and self-employment, the Prime Minister noted the success of the PLI scheme and highlighted the Employment Linked Incentive scheme which will create crores of jobs. Under the scheme, the first salary of the first job of a youth will be borne by the government. He also mentioned provisions for higher education and the scheme for internships for 1 crore youth. 
 
“Working in the top companies under the scheme, the young interns will find new avenues of possibilities," Prime Minister Modi said. 

'New Opportunities, New Energy'

 Prime Minister Modi also underlined the Budget’s potential for being a catalyst for making India the third largest economy in the world and for laying the strong foundation for the Viksit Bharat. 
 
“Today's budget has brought new opportunities, new energy, new employment and self-employment opportunities. It has brought better growth and a bright future," he remarked.

Asserting the commitment to make India the manufacturing hub of the world, Prime Minister Modi emphasised the links of MSME with the middle class of the country and its employment potential for the poor segment. To create big strength for small industries, the Prime Minister informed about the new scheme announced in the Budget that will increase the ease of credit for MSMEs.
 
“The announcements in the Budget will take manufacturing and exports to every district”, he said, “e-Commerce, export hubs and food quality testing will give new momentum to One District-One Product programme.”

Prime Minister Modi also highlighted that a big focus of this Budget is the nation's farmers. After the world’s biggest grain storage scheme, now Vegetable Production Clusters are being introduced which will help both the farmers and the middle class.
 
“It is the need of the hour for India to become self-reliant in the agricultural sector. Therefore, measures have been announced to help farmers increase the production of pulses and oilseeds,” he emphasised.