Middle class hit the jackpot! Government will pay first month's salary to new employees, big announcement in budget! – News India Live

The Modi government has presented the first budget of its third term in Parliament today. Finance Minister Nirmala Sitharaman presented the budget in the House. In this budget, she first made an announcement for employment and youth. The Finance Minister made a big announcement in the budget focusing on youth and employment. The government has allocated a budget of Rs 2 lakh crore for 5 schemes related to employment and skill training. The government also announced 3 incentive schemes to promote employment.

Big announcement for employees
The Finance Minister said at the beginning of his budget speech that the government will help both employees and employers to increase employment. The Finance Minister has made three major announcements in the budget speech. Which will be aimed at first-time employees. The Finance Minister said that the government will give the first month's salary to those working in the organized sector. Apart from this, the government will also make its contribution to EPFO ​​within 4 years of employment. The Finance Minister said in his budget speech that the government will encourage 30 lakh youth coming into the workforce by giving one month's PF contribution. EPFO ​​will provide direct benefit of up to Rs 15,000 of one month's salary to first-time registered employees in three installments. Employees as well as employers will be supported.

1. For the first time, employees registered under EPFO ​​will get 1 month salary up to Rs 15000 in three installments through Direct Benefit Transfer.

2. Direct incentives will be provided to both employer and employee under EPFO ​​contribution within four years of employment.

3. To support employers, the government said in the Budget that additional employees will be reimbursed up to Rs 3,000 per month for two years.

Budget Priorities
This time the government has focused on 9 priorities in the budget. Which are as follows.
1. Productivity and resilience in agriculture
2. Employment and skills
3. Inclusive human resource development and social justice
4. MFG & SERVICES SERVICES
5. Urban development
6. Energy security
7. Infrastructure
8. Innovation, Research and Development Research and Development
9. Next Generation Improvements (Next Generation Improvements) Next Generation Improvements