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Advantage AxisDirect

The finance minister Nirmala Sitharaman has turned the lens on job creation and employability through a string of measures as creating jobs by the millions for years on end for the armies of youth that are joining the queue of hopefuls every year remains a central long run policy challenge in India. A new internship programme that will allow corporations to employ interns at Rs 5,000 per month for a year for which companies will be able to use corporate social responsibility (CSR) funds. Ten million youth is targeted to be skilled through this over five years. She also announced the launch of an e-voucher scheme for loans of upto Rs 10 lakhs for higher education in domestic institutions given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount. For first timers, a direct benefit transfer of one-month salary in three installments of upto Rs 15,000 to first-time employees registered in EPFO. For job creation in manufacturing, incentives will be given directly to the employees and the employers as per the EPFO contribution in the first four years of employment.
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