India’s Finance Minister Nirmala Sitharaman announced a new internship scheme aimed at providing one million young people with opportunities in the top 500 companies over the next five years.
The scheme will offer a monthly allowance of ₹5,000 and a one-time payment of ₹6,000 to interns. Companies will be responsible for training and covering the costs using their Corporate Social Responsibility funds.
The announcement was part of a broader focus on job creation within the Union Budget 2024-25, which outlined nine priorities for generating employment opportunities.
In addition to the internship scheme, the government announced two other programs designed to generate jobs for nearly 41 million young people over the next five years. One program will provide a one-month wage to new workers across all sectors, while another will invest ₹2 trillion to provide skills training for 2 million youth.
To encourage women’s participation in the workforce, the government plans to establish working women hostels and childcare facilities, along with women-specific skill development programs and market access support for women-led businesses.
