Union Budget
Union Budget: Schemes for providing internship opportunities in top companies launched, what is the internship allowance?
The Indian Government will launch a comprehensive scheme for providing internship opportunities in top companies, Union Minister Nirmala Sitharaman announced on Tuesday.
This will be the 5th scheme under the Prime Minister’s package.
While presenting the Union Budget 2024-25 in Parliament, the Union Finance Minister, Nirmala Sitharaman announced that the scheme will provide internship opportunities in 500 top companies to 1 crore youth in 5 years.
They will gain exposure for 12 months to real-life business environment, varied professions and employment opportunities, she said.
An internship allowance of Rs. 5,000 per month along with a one-time assistance of Rs. 6,000 will be provided to the youth.
Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds, the Finance Minister added.
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