Union Budget 2014-15: Employment and Skill development

Union Finance Minister, Arun Jaitley on 10 July 2014 presented Union Budget 2014-15. In his maiden budget, the Union Finance Minister announced certain major plans for employment generation and Skill development in the budget.

The Finance Minister has emphasized on skill development and entrepreneurship in the budget. Plans announced for Employment and Skill in the budget 2014-15 are
• A programme for the upgradation of skills and training in ancestral arts for development for the minorities “Up gradation of Traditional Skills in Arts, Resources and Goods” to be launched
• Skill India to be launched to skill the youth with an emphasis on employability and entrepreneur skills
• A nationwide “District level Incubation and Accelerator Programme” to be taken up for incubation of new ideas and necessary support for accelerating entrepreneurship
• Employment exchanges to be transformed into career centres and for this a sum of 100 crore has been provided
• More productive, asset creating and with linkages to agriculture and allied activities wage employment would to be provided under MGNREGA
• Start up Village Entrepreneurship Programme ‰for encouraging rural youth to take up local entrepreneurship programs with an outlay of 100 crore rupees to be launched