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Budget 2023: Stipend support to 47 lakh youth in next 3 yrs under PM Kaushal Vikas Yojana 4.0
Finance minister Nirmala Sitharaman said in her Budget 2023 speech that India's skilling ecosystem will be expanded with stipend support to eligible youth.
India's digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform, Finance Minister Nirmala Sitharaman announced on Wednesday, with the Budget laying the roadmap to train lakhs of youth in the next three years.
Presenting the Union Budget for 2023-24, Sitharaman said stipend support will be provided to 47 lakh youth in three years via direct benefit transfer through roll out of a pan-India National Apprenticeship Promotion Scheme.
"Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched to skill lakhs of youth within the next three years. On-job training, industry partnership, and alignment of courses with needs of industry will be emphasized," the Finance Minister stated.
She shared that the scheme will also cover new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills.
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Moreover, to skill youth for international opportunities, 30 Skill India International Centres will be set up across different states, Sitharaman said.
The digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform for enabling demand-based formal skilling, linking with employers including MSMEs, and facilitating access to entrepreneurship schemes, the Finance Minister informed.
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This is the last full Budget of the second term of the BJP-led NDA government ahead of the general elections in 2024.
Sitharaman presented her fifth full Budget after she took over as Finance Minister in July 2019 from late Arun Jaitley, who opted out due to health reasons.
