Sarvesh Agrawal, Founder and CEO of Internshala,... ... Union Budget 2024 Live Update

Sarvesh Agrawal, Founder and CEO of Internshala, the career-tech platform

The 2024 Budget has been a landmark announcement for the future of employment and skilling in India, emerging as one of the top nine priorities. The allocation of a substantial budget of ₹1 lakh crore for employment and skilling development is a clear indication to the government's commitment towards building a robust workforce.

A key highlight for me in the Budget 2024 is the announcement of internship opportunities for 1 crore Indian youth with 500 top Indian companies. This initiative, which ensures a ₹5,000 stipend for interns along with an additional one-time help of ₹6,000, and a 12-month experience period, is a significant step forward. Encouraging companies to utilise their CSR funds for the learning and development of interns is a welcome move. It may even be the right nudge to inspire companies to build more holistic internship programs, contributing to the overall employment and skilling development of the nation.

Another noteworthy announcement for us at Internshala is the centrally sponsored skilling programs with the upgradation of 1,000 industrial training institutes. The focus on updating and introducing new courses for emerging industries is particularly exciting. This will not only help bridge the current skill gap but also prepare our youth for the future job market.

These measures reflect a strong and positive outlook for Indian youth, providing them with ample opportunities for growth and development. The structured support and initiatives outlined in this budget will empower our youth to gain valuable skills and experiences, making them more competitive in the job market. This, in turn, will contribute significantly to our pursuit of a “Viksit Bharat”. I am optimistic that these initiatives will pave the way for a brighter future, where the Indian youth are well-equipped to meet the challenges of the global economy and drive our nation's growth.