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ARTICLE · 23 SEPTEMBER 2024

Budget 2024: Key Takeaways For The Employment Sector

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The 2024 union budget presented by Finance Minister Nirmala Sitharaman on 23rd July 2024 is an employment-centric budget that has prioritized the creation of fresh employment and skill development.

IndiaEmployment and HR
Gyanendra Mishra
Gyanendra Mishra
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1. INTRODUCTION:

The 2024 union budget presented by Finance Minister Nirmala Sitharaman on 23rd July 2024 is an employment-centric budget that has prioritized the creation of fresh employment and skill development. The budget has introduced reliefs with respect to deductions of income tax and deductions with respect to the National Pension Scheme.

It has also announced five major schemes in the budget, along with the ancillary programmes, cover a wide array of facets of the labour and employment sector, including financial support to new employees, incentives to employers to hire more employees, skill development programmes, paid internships, education and skill development loans, revamping of courses to meet the demand of the industry, women empowerment, and labour reforms amongst others.

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