The Indian government has announced a series of employment-focused initiatives in its 2024 budget. The key measures include:
* **One-month salary contribution:** All new employees will receive a one-month salary contribution to their Provident Fund, aimed at benefiting 210 lakh young people.
* **Manufacturing sector incentive:** An incentive program will be offered to both employers and employees in the manufacturing sector, linked to the employment of first-time workers. This scheme is expected to benefit 30 lakh youths.
* **Additional employment incentive:** A program will incentivize employers to hire additional staff in all sectors by reimbursing up to ₹3,000 per month for two years towards the EPFO contribution for each new employee, potentially creating 50 lakh new jobs.
* **Working women hostels:** The government plans to establish hostels for working women to encourage female workforce participation.
* **Climate-resilient seeds:** Funding will be provided to private businesses, experts, and other entities to develop seeds resistant to climate change.
These measures aim to address concerns over job opportunities and stimulate economic growth.
