Union finance minister Nirmala Sitharaman unveiled a pre-election Budget 2023 that cut personal income taxes to boost consumption while ramping up infrastructure spending to spur growth in an economy touted as a “bright star” amid a gloomy global outlook. In her 1 hour 25 minutes address, Sitharaman also tried to woo Gen Z or Generation Z.
Skill Digital India Platform: Skill India International Centres to be set up across different states to skill the youth for international opportunities.
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Centres of excellence for artificial intelligence: A major focus is also on enhancing our fighting capabilities in the cyber and artificial intelligence domain and upgrades have been planned by the forces for this requirement. Three centres of excellence for artificial intelligence will be set-up in top educational institutions.
National Apprenticeship Promotion Scheme: To provide stipend support to 47 lakh youth in three years, direct benefit transfer under a pan-India National Apprenticeship Promotion Scheme will be rolled out.
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Pradhan Mantri Kaushal Vikas Yojana 4.0: On-job training, industry partnership, and alignment of courses with the needs of the industry will be emphasised. The scheme will also cover new-age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills. To skill the youth for international opportunities, 30 Skill India International Centres will be set up across different states.
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The government also wooed hundreds of millions of middle-class voters and women with incentives such as tax rebates and savings plans to ensure their backing in general elections next year.
These two groups have emerged as key voting blocs that have supported Modi in past elections and he will need their support as he seeks a third term in office.