Budget 2024-25: Major Announcements For Students & Youths

On July 23, the Union Budget for 2024-25 was presented in the Lok Sabha by Finance Minister Nirmala Sitharaman. Here are major announcements for the youths: EPFO registration The job situation in the nation will improve thanks to the three programs the administration has suggested for promoting employment for fresh applicants. Employers will be encouraged to hire new applicants for their organizations by the salary subsidy for employees and the support provided to them; additionally, the association with EPFO registration will advance the goal of formalizing employment in the nation. Education Loans The proposed education loans would serve two purposes: first, by providing interest-subvention schemes to assist financially disadvantaged students; second, by enabling loans to be obtained only upon admission to domestic institutions, which will promote the healthy growth of domestic institutions. Employment-linked incentives & E-Vouchers The government will directly provide e-vouchers to 1 lakh students annually, along with an interest subvention of 3 per cent on their loan amount. The Employment-linked incentives, including one month's wage support for first-time employees.Indian professionals working in multinationals get ESOPs and invest in social security schemes and other movable assets abroad. Non-reporting of such small foreign assets has penal consequences under the Black Money Act. The non-reporting of movable assets up to ₹ 20 lakh is proposed to be de-penalised. Comprehensive internship scheme The finance minister has proposed to provide internship in 500 top companies to 1 crore youth with allowance of Rs. 5,000 per month

Budget 2024-25: Major Announcements For Students & Youths

Mariya Paliwala

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