Budget to plug skill gap, boost employment creation: HR, ed-tech industry

HR and Ed-tech industry experts on Tuesday said budget proposals on skilling, internship and job creation will help address the need for a skilled workforce and boost employment generation for youth.

Experts termed the Budget for 2024-25 presented by Finance Minister Nirmala Sitharaman as forward-thinking which aligns with the vision of a 'Viksit Bharat'.

Direct Benefit Transfer (DBT) of up to Rs 15,000 is set to boost formal employment by making it more attractive for industries to hire new talent, they added.

Sitharaman in the budget announced an outlay of Rs 2 lakh crore for several schemes targeting 4.1 crore youth. The minister announced a provision of Rs 1.48 lakh crore for education, employment and skilling programmes.

TeamLease Degree Apprenticeship Chief Strategy Officer Sumit Kumar said with targeted outreach to 4.1 crore youth over five years, the initiative is poised to make a significant impact by seamlessly integrating education, skill development and employment.

"Up