Budget Reactions | Deepti Thakkar, Nishith Desai Associates Comments On Skill Development Aspect

Finance Minister, Nirmala Sitharaman announced various employment-linked schemes as part of the Union Budget 2024. These schemes will be based on enrolment in the EPFO, focusing on recognising first-time employees. Further, the Government is committed to launch schemes to offer youth internships in top companies.

Deepti Thakkar, Leader, Employment & HR Laws at Nishith Desai Associates said, “Efforts in the areas of skill development and incentivisation would help in laying a strong foundation for future workforce. Internship opportunities in top companies would be extremely helpful for the new workforce to gain on the job training and practical experience besides the theoretical knowledge they receive during their education, which would overall help the economy in creating skilled workforce.”