The child-friendly policies for young people came about through consultation with the Welsh Assembly's youth forum, the Funky Dragon, based on young people's requests.
All 15 and 16-year-olds will be entitled to half-price bus tickets. Adam Higgitt, head of policy at Welsh Labour, said: "Young people often spend the most on travel to jobs, yet earn the least."
About 16m will go to providing free breakfasts for primary school children.
"There's no reason why it can't be extended to older children once the scheme gets under way," said Higgitt. A further mini-manifesto aimed at young people is due to be launched later this week.
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