The scheme is expected to help companies address the skill gap in employment.
Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there. The government has left it to each company to see how it can support the programme. The scheme should support students in finding jobs. Our support in the programme continues in Pantnagar."
Ramesh Alluri Reddy, chief executive officer (CEO), TeamLease Degree Apprenticeship, said the Budget's emphasis on skill development and job creation was commendable.
But the scheme requires clarity. The lack of detailed provisions on qualifications and procedural guidelines could impede its rollout and compliance. For instance, the definition of a "premier institution" remains nebulous.
This vagueness could lead to disparate interpretations and distorted implementation. Additionally, the age bracket of 21-24 lacks specificity regarding employment status and economic conditions, he said.
Sanjay Nayar, Assocham, and former CEO, KKR & Co's India unit, said: "Industry is poised to benefit from the scheme...
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