In a significant move to boost youth employment and skill development, Finance Minister Nirmala Sitharaman has announced in the Union Budget 2024 that the top 500 companies will bear the cost of ₹5,000 stipend for 1 crore internships. This initiative aims to provide hands-on experience to young individuals, enabling them to acquire industry-specific skills and become job-ready.
The program is designed to benefit both the interns and the companies, as it will provide a steady supply of skilled workforce to the industry. The government has identified the top 500 companies, which will participate in this initiative and provide stipends to the interns.
FAQs
Q1. Who will bear the cost of the stipend for the internships?
A. The companies will bear the cost of the stipend.
Q2. How many internships will be provided under the program?
A. 1 crore internships will be provided.
Q3. What is the stipend amount for each intern?
A. 5,000 will be provided as a stipend to each intern.