Package is aimed at facilitating employment, skilling and internship opportunities for 4.1 crore youth over a 5-year period.
About the Schemes
Parameter | Scheme | Key Features |
Employment Linked Incentive Schemes | Scheme A: First Timers | - Provide one-month wage to all persons newly entering the workforce in all formal sectors.
- Eligibility limit: Salary of upto ₹1 lakh per month.
- Benefit: One-month salary in 3 instalments up to ₹15,000 to first-time employees.
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Scheme B: Job Creation in Manufacturing | - Linked to first time employees in manufacturing sector.
- Incentive to both employee & employer for EPFO contributions in first 4 years.
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Scheme C: Support to Employers | - Government will reimburse EPFO contributions of employers up to ₹3000 per month for 2 years for all new hires.
- Cover all additional employment within a salary of ₹1 lakh per month in all sectors.
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Skilling Programme | 4th scheme | - New centrally sponsored scheme for skilling in collaboration with State governments and Industry.
- Aims at skilling 20 lakh youth over 5-year period.
- 1,000 Industrial Training Institutes will be upgraded in hub and spoke arrangements with outcome orientation.
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Internship Opportunities | 5th scheme | - Comprehensive scheme for providing internship opportunities in 500 top companies to 1 crore youth in 5 years.
- Monthly allowance of ₹5,000 along with one-time assistance of ₹6,000.
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