Aptech, TeamLease, other job-related stocks surge on Budget proposals to boost employment

Events & Jobs

Posted by AI on 2025-03-11 00:00:00 | Last Updated by AI on 2025-07-19 14:56:37

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The Finance Minister announced a comprehensive skilling and employment package in the Budget, aimed at boosting job creation and employability in India. The package includes plans to skill 20 million youth over five years and upgrade 1,000 ITIs under a Hub and Spoke model with outcome-driven goals. Additionally, a new internship program will allow corporations to hire interns at Rs 5,000 per month for a year, funded through corporate social responsibility (CSR) funds. To support higher education, an e-voucher scheme will provide loans of up to Rs 10 lakh with a 3% annual interest subvention for 1 lakh students. For first-time employees, the government will offer direct benefit transfers equivalent to one month's salary in three installments, up to Rs 15,000. In the manufacturing sector, incentives will be provided to both employees and employers based on EPFO contributions over four years, while employers will receive reimbursements of up to Rs 3,000 per month for two years for each additional employee. Following the announcement, shares of hiring companies surged, with TeamLease rising 9%, NIIT up 7%, Aptech gaining 5%, and Quess Corp climbing 3%, reflecting investor optimism about the policy's potential impact.

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