Explore
Settings

Settings

×

Reading Mode

Adjust the reading mode to suit your reading needs.

Font Size

Fix the font size to suit your reading preferences

Language

Select the language of your choice. NewsX reports are available in 11 global languages.
we-woman
Advertisement

Union Budget 2024 Highlights: New Internship Scheme for Youth and Credit Guarantees for MSMEs

Sitharaman reveals a new scheme designed to offer internships at top companies to one crore youth over the next five years.

Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 today, following the release of the Economic Survey. The budget is unveiled in Parliament at 11 a.m., marking the first budget of Prime Minister Narendra Modi’s third term.

Government to Launch Internship Scheme for One Crore Youth

In a major announcement, Sitharaman reveals a new scheme designed to offer internships at top companies to one crore youth over the next five years. This initiative aims to provide valuable work experience and enhance employability for young people across the country.

Credit Guarantee Schemes for MSMEs in Manufacturing

Sitharaman introduces a new credit guarantee scheme to support Micro, Small, and Medium Enterprises (MSMEs) in the manufacturing sector. She explains, “To facilitate term loans for MSMEs for the purchase of machinery and equipment without requiring collateral or guarantees, a new scheme will be introduced. This guarantee fund will offer guarantees of up to ₹100 crore.”

₹2.66 Lakh Crore Allocated for Rural Development

The Finance Minister announces a significant allocation of ₹2.66 lakh crore for rural development. This funding is intended to improve infrastructure and support various development projects in rural areas, enhancing living standards and economic opportunities.

The budget outlines key initiatives to drive growth, support MSMEs, and improve rural infrastructure, setting a forward-looking agenda for India’s economic development.

mail logo

Subscribe to receive the day's headlines from NewsX straight in your inbox