Indore (Madhya Pradesh): The Budget of 2024 has elicited mixed reactions from the youth, with many feeling optimistic about government initiatives while others expressed some reservations. On the positive side, the budget’s emphasis on youth empowerment, with substantial allocations for internships and practical exposure, has been widely appreciated. However, there are also concerns and criticisms.
Some youngsters, like MBA student, feel that while the budget is fair from a common citizen's perspective, it may not be as attractive to investors. ‘The budget emphasises youth empowerment by allocating significant resources to internships and practical exposure. A notable initiative is the provision of Rs 5k stipend for internships, aiming to enhance employability among young people.
While Rs 5k may seem modest, the underlying idea is commendable, as it provides crucial hands-on experience in various industries, bridging the gap between academic learning and professional requirements. By investing in practical training, the government aims to foster skill development, innovation and entrepreneurship, ensuring that the youth are well-prepared to contribute to the nation's economic growth and development.
This initiative underscores the commitment in building a skilled and capable workforce for the future, Mukul Maheshwari an LLM post graduate said.’
‘The Budget of 2024 has come up with various benefits to the youth as employment opportunities might get increased due to employment subsidies to employers in the near future along with that payment made to interns will also be included in CSR contribution by the companies and hence a benefit to interns too other than that new tax slab has reduced tax burden for low income group people, Purvi Pathak, a candidate pursuing CS said.’
Karan Sonkar, state SFD Convenor ABVP said, ‘The government of India allocates Rs 1.48 lakh crore for education, employment, etc. It means that the government is looking for the benefit of new entrepreneurs. This budget is going to promote students who are willing to take huge and beneficial steps in this job-giving sector.’ Sarjan Chouksey, MBA graduate said if we talk about the positive aspect of budget according to youngsters, then the new internship policy is sounding way too rich, as it will offer internship in top five companies.
Even the solar energy plan will make a positive impact for youth. While, no big improvement in tax redeem is made, the expected tax slab is not fulfilled. Abhishek Prajapat, an aspirant preparing for CA stated that the budget’s main purpose is to give relief to salaried employees that is relief in slab rate and standard deduction under 16(i) increased by Rs 25k, as it helps to save up to 17500 in tax liability.
Another is the benefit to pensioners by way of deduction The budget has both impact positive and negative, short term capital attracts 20pc rate, long term attracts 12.5pc and exemption from capital gains on financial assets is of 125k, as it gives major benefit to foreign companies on corporate tax by reducing from 40pc to 35pc.
