Nirmala Sitharaman: ₹15,000 Incentive From Govt On First Job Under PM Vikas Bharat Rojgar Yojana

Nirmala Sitharaman details government initiatives aimed at fostering a business-friendly environment and boosting youth employment. A key announcement is the Pradhan Mantri Vikas Bharat Rojgar Yojana, under which 'any young person receiving their first employment opportunity in a private company will be given 15,000 rupees from the central government'. Sitharaman outlines a two-pillar strategy, covering business reforms like SPICE Plus and CPACE, and a focus on education and skilling. She mentions the PM Kaushal Vikas Yojana, which has trained 1.6 crore people, and a Research Development and Innovation Scheme with a corpus of 1 lakh crore to encourage the private sector. The July '24 budget also allocated a two lakh crore outlay for schemes targeting 4.1 crore youth over five years.