The Union Budget is considered one of the most important financial credentials. It is quite important from the point of view of the economic and social landscape.
The economy of a country like India is completely based on the budget set annually by the Union finance minister. The budget comprises important statistics related to the benefits for every group.
Union Budget 2024 is a wide-ranging statement of the government's finances. It is all about the revenues, expenses, and economic policies it plans to execute in the forthcoming financial year. For job seekers, this budget brings lots of benefits for the young enthusiasts.
Let’s look into the main highlights for job seekers in the union budget 2024. The budget is focused on improving the skills for better job opportunities.
PMKVY 4.0 has been added to the budget from the side of the government. It has increased the allocation to boost the growth in different sectors. The program focuses on instructing 1 crore youth over the next three years in position with the demand of the industry, focusing on upcoming technologies. The development of robotics, AI, and even blockchain has been observed.
The government is also focused on supporting digital literacy and new IT skills. The Digital Skilling Hubs are ready to help with focused training in cybersecurity, coding, and data analytics. Now, with the advanced skills, you can open up the opportunity for a better career.
In the seventh budget, Union Finance Minister Nirmala Sitharaman proposes eliminating the Angel Tax to support modernism and entrepreneurship in the Indian startup system. It is going to be quite beneficial for new enthusiasts to start their businesses without any additional tax burden. No, it will say goodbye to the valuation arguments with tax authorities. The extra tax liability can deter assets, stifling the innovation and growth the government seeks to promote.
The budget also added a single window clearance system for MSMEs. It is about to ease the processes of starting new businesses. It measure is anticipated to decrease bureaucratic delays and hearten the organization of more small and medium businesses, which are the main job creators.
Upto ₹ 3 lakh, there is no tax on their earnings.
No doubt, this government is doing better things for the rural world. Therefore, the funding for the Pradhan Mantri Kisan Samman Nidhi has been significantly increased. Therefore, the farmers can use the new mode of farming to increase their productivity. A new generation can use new modes of equipment for better farming. There is special attention is given to women's employment in the rural areas.
There is no shortage of jobs in India. Still, it faces a lot of challenges in developing a skilled workforce. The low level of productivity instead of the low salaries can be challenged. Understanding the gig workers, the union budget has brought something special here.
The Indian government has called upon several social security additions. Now, they can enjoy the additional benefits of health insurance and a visionary fund for gig and platform workers. This move is predictable to provide a security net for millions of workers in the gig economy. It turns out to be quite an eye-catching employment choice.
In the new budget of 2024, ₹5,000 crores are approved for the National Research Foundation. Better quality education is assured for the students. It will open the gates for the scholars and faculty. New institutes are wished to set up in the new areas where there is an absence of good institutes. Therefore, it makes sure for better development in such locations. Fresher Jobs are meant to open the gate of success.
Finance Minister Nirmala Sitharaman, in the Union Budget 2024-25, initiates special schemes worth ₹3 lakh crore. It will bring lots of benefits for women and girls. This amount will help in the active participation of women.
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