Bharatiya Janata Party MP and acclaimed actor Kangana Ranaut has expressed her approval of the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman. She termed the comprehensive financial plan as “wholesome”. Ranaut, who serves as an MP for Mandi in Himachal Pradesh, particularly praised the announcement of flood relief measures for her state.
In her words, “We are very happy with the budget,” she noted in a public statement, also sharing the sentiment on Instagram alongside a photo with fellow BJP MPs Bansuri Swaraj and Ravi Kishan. She captioned the photo, “Wholesome budget Parliament budget session,” reflecting her positive outlook.
During her budget address to the Lok Sabha, Finance Minister Sitharaman highlighted the significant destruction caused by last year’s floods in Himachal Pradesh. She assured that the government would offer support for reconstruction and rehabilitation efforts through multilateral development assistance.
Besides addressing flood relief, Sitharaman’s budget underscored a targeted focus on employment, skilling, MSMEs, and the middle class. Announcing a substantial investment in human capital, she introduced the Prime Minister’s package of five initiatives aimed at facilitating employment and skill development opportunities for 4.1 crore youth over five years. This initiative is backed by a central outlay of ₹2 lakh crore.
“This year, I have made a provision of ₹1.48 lakh crore for education, employment, and skilling,” Sitharaman elucidated. She presented three new ‘Employment Linked Incentive’ schemes as part of the Prime Minister’s package, aimed at boosting employment across various sectors.
Scheme A for First Timers is designed to provide a one-month wage to all individuals entering the workforce in formal sectors for the first time. It will offer a direct benefit transfer equivalent to a month’s salary, disbursed in three instalments, to first-time employees registered with the Employees’ Provident Fund Organisation (EPFO). The benefit, capped at ₹15,000, is expected to aid approximately 210 lakh youth, with the eligibility limit being a salary of ₹1 lakh per month.
Scheme B focuses on job creation within the manufacturing sector. It seeks to incentivize additional employment, particularly for first-time employees, by offering direct incentives tied to EPFO contributions for both employees and employers.
. This scheme is projected to benefit around 30 lakh new entrants and their employers.
Scheme C is employer-centric and extends to all sectors, rewarding additional employment within a salary bracket of ₹1 lakh per month. Employers will receive up to ₹3,000 per month for two years toward their EPFO contributions for each additional employee. This initiative aims to boost jobs for an additional 50 lakh persons.
To further enhance workforce participation, especially among women, Sitharaman announced the establishment of working women hostels in partnership with industry players, along with the setup of creches. “Additionally, this collaboration will organize women-specific skilling programs and promote market access for self-help group (SHG) enterprises run by women,” the minister added.
A fourth scheme under the Prime Minister’s package involves coordinating with state governments and industry to skill 20 lakh youth over a five-year period. Around 1,000 Industrial Training Institutes (ITIs) will be upgraded to meet industry-specific skill requirements, and new, relevant courses will be introduced.
The Model Skill Loan Scheme will see revisions, allowing students to avail loans up to ₹7.5 lakh backed by a government-promoted Fund. This measure aims to support 25,000 students annually.
Another significant announcement was the financial support scheme for loans up to ₹10 lakh for higher education in domestic institutions. Up to 1 lakh students will receive e-vouchers for 3% annual interest subvention on their loan amounts. This aims to support youths who have previously been ineligible for government schemes and policies.
The fifth scheme targets a comprehensive internship initiative, offering opportunities to one crore youth in the top 500 companies over five years. These internships will provide 12 months of exposure to real-world business environments, varied professions, and employment opportunities. An internship allowance of ₹5,000 per month plus a one-time assistance of ₹6,000 will be provided, with companies expected to cover the training costs and 10% of the internship cost from their Corporate Social Responsibility (CSR) funds.
Kangana Ranaut’s endorsement adds a layer of celebrity and political engagement to the Union Budget 2024, reinforcing the narrative of economic growth and skill development outlined by Finance Minister Sitharaman.
