Union Cabinet approves the outlay of 8,800 crore to promote Skill India initiative – CNBC TV18

Union cabinet approves an allocation on Friday 8,800 crore, Union Minister Ashwini Vaishnav announced at a press conference to promote Kaushal Bharat program.

The purpose of funding is to carry forward the initiative of skill development and provide industry opportunities for the youth.

The government has announced several major initiatives with focus on promoting youth with industry-related skills and promoting entrepreneurship among the marginalized communities.

PM Kaushal Vikas Yojana 4.0 (PMKVY 4.0): The latest phase of the flagship PM Kaushal Vikas Yojana focuses on demand-driven skill development. It aims to provide training and certification to the youth in industry-relevant skills, with emphasis on short-term training, apasming and recycling. This initiative is designed to meet the developed needs of various industries and increase the employment of India’s workforce.

PM National Apprenticeship Promotion Scheme (PM-NAPS): To facilitate the school-to-work infection, the PM-NAPS provides financial incentive to industries to confuse trainees. The program ensures experience on hands for youth in both manufacturing and service sectors, according to the provisions of the Trainee Act, 1961. Its purpose is to bridge the difference between educational teaching and practical workplaces skills.

Jan Sikh Sanskrit for skill development (JSS): Targeting groups of margins, the Sanskrit initiative provides community-based skill training with special attention to women and rural youth. The program promotes self-employment and local entrepreneurship by offering direct flexible training opportunities at the doors of trainees, empowering them to make permanent livelihood.

Along with these initiatives, the government aims to make a skilled workforce, foster entrepreneurship and run economic development.

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