EB Bureau
Bhubaneswar, 23 July
The Union Budget 2024 will go a long way in promoting youth empowerment as proposed measures like mega internship programme, massive skilling, and financial support to students are likely to enable India to reap the demographic dividend, Dr. Silpi Sahoo, Chairperson of SAI International Education Group said.
In her post-budget reaction, Dr. Sahoo also hailed the proposed ‘Purbodaya’ initiative of the Central government, which aims at accelerating growth in the eastern region of the country through digitization and rapid technology adoption apart from focusing on infrastructure, and human resource development.
“The Union Budget 2024–25 shows a strong commitment to youth empowerment, acknowledging that it is essential to the success of our country. A 30% increase in funding to Rs 1.48 lakh crores has been allocated for education, employment, and skill development; this is a necessary and promising initiative. Students from low-income backgrounds benefitting from the provision of financial support for loans up to Rs 10 lakh for higher education is a welcome move by the government. Internship chances at 500 leading companies for 1 crore students during a 5-year period coupled with an internship allowance of Rs 5,000 per month and a one-time aid of Rs 6,000 will offer invaluable exposure and professional experience to the youth of India,” Dr Sahoo of SAI International Education Group said.
She also noted that the skilling project – which will be executed through a partnership between businesses and state governments- that intends to improve 1,000 Industrial Training Institutes (ITIs) to train 20 lakh kids over the course of five years is a notable development in the Union Budget, 2024.
“I am sure that many students will benefit from the redesigned Model Skill Loan Scheme, which would provide loans up to Rs 7.5 lakh backed by a government-sponsored fund. This will help the youth to be more professionally trained. Also, the Eastern region’s ‘Purbodaya’ plan and the emphasis on digitization and technology adoption prioritizing infrastructure, economic prospects, and human resource development will be a key to turn the region into a major player in the global economy. If these policies are implemented effectively, Bharat is on the path to attaining global leadership,” Dr. Silpi Sahoo added.
This year’s budget has earmarked Rs 1.48 lakh crore for promoting skilling and employment among Indian youth as the country aims to be the third-largest economy in the world by 2030.
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