26 Jul 2024
On Wednesday, industry bigwigs said the Union Budget's emphasis on skilling, employment, and enhanced women's workforce participation will facilitate job creation and overall growth. Finance Minister Nirmala Sitharaman unveiled various schemes and incentives for skilling, employment, and women-led development in the Union Budget 2024.
Budget allocation for paid internships and schemes to promote women's participation in the workforce is another announcement being appreciated by stakeholders. He said the strategic shift towards employability and skill development is an important milestone that will facilitate growth in the employment sector in the coming five years.
“I welcome and appreciate the budget allocation of an Rs 2 lakh crore package for youth, with a focus on jobs, skills, and education. The provision of Rs 1.48 lakh crore for education, employment, and skills and a 6.8 percent increase in the overall budget allocation this year was the need of the hour,” said Naman Jain, education policy expert, and Vice Chairman at Silverline Prestige School. He said the government should focus on building a strong skill development infrastructure at the K-12 or school level, as it is the entry point to creating a future-ready workforce.
Special emphasis on employment and skill development will boost growth across various industries, ensuring youth empowerment. India's new and promising sectors, such as drones, solar, and EVs, are going to get the much-needed boost with the country's vision of becoming a global hub.
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