Powering up India’s job market: Rs 2 lakh crore in Budget for initiatives to boost employment, skilling for 41 mn youth

The Indian budget has introduced five schemes to encourage industry growth and job creation. The first scheme will provide one month's wages to new appointees in all formal sectors, with up to Rs 15,000 through direct benefit transfer. The second scheme will provide incentives directly to employees and employers linked to Provident Fund contributions in the first four years.