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It will allow Indian youth to serve in the armed forces for four years.
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The scheme aims to bring about a transformational shift towards more tech-savvy armed forces by hiring youngsters who are in tune with contemporary technological trends.
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Recruits will get an attractive monthly package along with risk and hardship allowances.
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A non-contributory life insurance cover of Rs 48 lakh is to be provided to all recruits for the duration of the engagement period.
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Up to 25 percent of each batch of Agniveers will be enrolled as a regular cadre of the armed forces.
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Enrolment will be undertaken through a centralized online system for all armed forces.