First-time workers get paid for one month: FM Sitharaman

New Delhi: On Tuesday, Finance Minister Nirmala Sitharaman declared that newly hired Central government employees would receive a month's salary.

The money will be given to the staff as a contribution to their Provident Fund.

The government will launch three initiatives to create jobs. Plan for first-timers to give all individuals just starting employment in any sector a wage of one month. FM Sitharaman stated, "First-time employment scheme to benefit 2.1 crore lakh youths."

According to FM Sitharaman, Scheme A is for new hires, Scheme B is for manufacturing job development, and Scheme C is for employer assistance.

First-time employees who join with the Employees Provident Fund Organization would receive a direct benefit transfer under Scheme A of one month's salary, payable in three installments up to a maximum of Rs 15,000.

In Scheme B, incentives will be given directly to employers and employees in accordance with their EPFO contributions during the first four years of employment.

Under Scheme C, companies will receive compensation for each new employee's EPFO contribution, up to Rs 3,000 per month for two years.

Over a five-year period, 20 lakh youth would be skilled, according to the Finance Minister.

Additionally, the government would contribute up to Rs 10 lakh toward higher education at local universities.

A Rs 2 lakh-crore PM package including five projects was announced by FM Sitharaman to promote skill development and employment. Rs 1.48 lakh crore has been set aside for skill development, employment, and education.

Given that the opposition has been criticizing the Center on the matter, the various programs are providing a significant boost to the creation of jobs.