By Team foundit
July 23, 2024
The Union Budget 2024 has introduced new internship schemes to help freshers gain on-the-job training.
One crore youth will get opportunities in the top 500 companies over the next five years.
Interns will receive a monthly allowance of Rs 5000 to help them gain real-life work experience.
Companies will use Corporate Social Responsibility funds to cover training costs and 10% of the internship program expenses.
Firms must spend 2% of their average net profit on CSR activities as per the Companies Act 2013.
The government has allocated Rs 2 lakh crore to create employment for 4.1 crore youth over five years.
Key sectors likely to benefit include Healthcare, Technology, Manufacturing, Consumer Goods, Hospitality & Tourism