We commend the Government of India for the remarkable steps taken in the Modi 3.0 administration’s first budget, prioritising employment and skilling, social justice, and manufacturing. This forward-thinking budget demonstrates a robust commitment to inclusive development, especially for our youth, women, and farmers. The particular consideration given to promoting employment and skilling underscores the Government’s dedication to nurturing the potential of our young generation. The ambitious plan to skill 20 lakh youth over the next five years is a testament to this commitment, equipping them with the skills needed to thrive in a dynamic and evolving economy.
Additionally, the focus on skilling programs for women and introducing new initiatives to enhance their economic participation is a remarkable step towards gender equality and economic empowerment.
One of the standout initiatives is the scheme to provide one crore youth with internship opportunities in 500 top companies. This initiative, with an internship allowance of Rs 5000 per month and a one-time assistance of Rs 6000, will provide our young talent with valuable hands-on experience and bridge the gap between education and employment, offering them financial support during their learning phase.
Furthermore, the Government’s employment-linked incentives initiative aims to promote job creation within the manufacturing sector. The scheme, designed to encourage the employment of first-time employees, will offer incentives related to EPFO contributions for the initial four years of their employment. This initiative will benefit 30 lakh young individuals and generate supplementary job opportunities across various sectors. Employers stand to receive reimbursement of up to Rs 3,000 per month over two years for EPFO contributions towards each newly hired employee. The overarching goal of this program is to drive the recruitment of an additional 50 lakh individuals, fostering economic growth and employment prospects. Additionally, it aims to promote white-collar jobs in the formal sector, significantly contributing to job creation in the manufacturing sector.
just excited but also fully prepared to support these initiatives and contribute to the nation’s progress. We are committed to aligning our efforts with the Government’s vision and ensuring that our sector continues to play a vital role in driving economic growth, social justice, and sustainable development. This commitment instils confidence in our collective ability to achieve these goals. The introduction of a taxonomy for climate finance is a commendable step. This classification system will help streamline investments in sustainable projects, provide clear guidelines for stakeholders, and ensure that funds are directed towards initiatives with a positive environmental impact. By promoting green finance, this taxonomy will contribute to our efforts to combat climate change, enhance resource efficiency, and build a more resilient economy. Together, we can build a future where every individual has the opportunity to realize their potential, contributing to a prosperous and inclusive India.
