Kangana Ranaut Applauds Union Budget 2024, Labels it “Wholesome”

Bharatiya Janata Party MP and actor Kangana Ranaut has expressed her approval of the Union Budget 2024, presented by Finance Minister Nirmala Sitharaman. Describing the budget as “wholesome,” Kangana, who represents Mandi in Himachal Pradesh, highlighted the significant announcement regarding flood relief for her state.

“We are very happy with the budget,” she stated, emphasizing the support for flood-stricken Himachal Pradesh. Kangana also shared her thoughts on Instagram, posting a picture with BJP MPs Bansuri Swaraj and Ravi Kishan, captioned, “Wholesome budget Parliament budget session.”

During her budget speech in Lok Sabha, Sitharaman acknowledged the extensive losses Himachal Pradesh faced due to last year’s floods. “Our government will provide assistance to the state for reconstruction and rehabilitation through multilateral development assistance,” she said.

The budget has a particular focus on employment, skilling, MSMEs, and the middle class. Sitharaman announced a Prime Minister’s package of five schemes and initiatives aimed at facilitating employment and skilling opportunities for 4.1 crore youth over five years, with a central outlay of Rs two lakh crore. “This year, I have made a provision of Rs 1.48 lakh crore for education, employment, and skilling,” she added.

The government will implement three schemes for ‘Employment Linked Incentive’ as part of the Prime Minister’s package, focusing on first-time employees, support to employees, and employers. Scheme A for First Timers will provide one-month wages to all new entrants in the workforce across all formal sectors, with direct benefit transfers up to Rs 15,000. The scheme aims to benefit 210 lakh youth.

Scheme B for job creation in manufacturing will incentivize additional employment in the manufacturing sector, linked to the employment of first-time employees. An incentive will be provided directly to both employees and employers with respect to their EPFO contribution in the first four years of employment. This scheme is expected to benefit 30 lakh youth and their employers.

Scheme C, which is employer-focused, will cover additional employment in all sectors. All additional employment within a salary cap of Rs 1 lakh per month will be counted, with the government reimbursing employers up to Rs 3,000 per month for two years towards their EPFO contribution for each additional employee. The scheme is anticipated to incentivize the additional employment of 50 lakh persons.

To enhance women’s workforce participation, the government will set up working women’s hostels in collaboration with industry and establish creches. This partnership will also organize women-specific skilling programs and promote market access for women SHG enterprises.

A new centrally sponsored scheme for skilling in collaboration with state governments and industry was also announced. The scheme aims to skill 20 lakh youth over five years, upgrade 1,000 Industrial Training Institutes in hub and spoke arrangements with outcome orientation, and introduce new courses for emerging industry needs.

The Model Skill Loan Scheme will be revised to facilitate loans up to Rs 7.5 lakh with a government-promoted Fund guarantee, expected to benefit 25,000 students annually. For students seeking higher education in domestic institutions, a financial support scheme for loans up to Rs 10 lakh was announced. E-vouchers for this purpose will be given directly to 1 lakh students each year, with an annual interest subvention of 3 percent.

Additionally, a comprehensive scheme will be launched to provide internship opportunities in 500 top companies for one crore youth over five years. These internships will offer 12 months of exposure to real-life business environments and employment opportunities, with an allowance of Rs 5,000 per month and a one-time assistance of Rs 6,000. Companies will be expected to cover training costs and 10 percent of the internship cost from their CSR funds.