Union Budget: Boost to youth empowerment, women in workforce

New Delhi, July 23 (IANS) As Union Finance Minister Nirmala Sitharaman presented her seventh Budget on Tuesday, among several things, she put forth the government’s vision for the empowerment of youth.

One of the highlights of this budget is grant of one month’s wage for first-time employees, which will be provided to them as a Provident Fund contribution.

There will also be provision for internships in 500 established companies, which will be encouraged among youth.

Additionally, an internship allowance of Rs 5000 and a one-time assistance of Rs 6,000 are to be provided under the internship scheme, the Finance Minister said.

"The scheme is meant for all persons entering the workforce in all sectors. It will benefit 210 lakh youths," Nirmala Sitharaman said.

This announcement is seen as coming in response to the pervading discontent among youth over dearth of job opportunities.

Further, in a bid to boost the participation of women in the workforce, the Finance Minister announced to set up working women hostels across the country.