Budget 2024: One Month Wage for First-Time Employees, Says Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman today unveiled a new initiative during the presentation of the 2024-25 Union Budget. The government will offer one month’s salary to all new employees entering the workforce, which will be provided as a contribution to their Provident Fund.

"This scheme is meant for all persons entering the workforce in all sectors. It will benefit 210 lakh youths," Sitharaman stated while presenting the Budget in Parliament.

Addressing Employment Concerns

The initiative comes in response to widespread discontent over job opportunities, a factor seen as pivotal in the BJP's failure to secure a majority on its own in the recent general elections. The party managed to return to power with the support of its allies.

New Employment-Linked Schemes

In addition to the salary initiative, the Finance Minister announced three employment-linked schemes aimed at boosting job creation and workforce participation:

Working Women Hostels: Sitharaman announced the establishment of working women hostels across the country to encourage greater participation of women in the workforce.

Climate-Resilient Seeds: The government will fund the private sector, domain experts, and other stakeholders to develop climate-resilient seeds, supporting sustainable agriculture and ensuring food security.

These measures are designed to address employment challenges, promote gender equality in the workforce, and support sustainable agricultural practices, thereby fostering inclusive growth and economic stability.