Rs. 1000 cr slotted for youth skill development

Finance minister P Chidambaram allocates Rs. 1,000 crore to develop job-oriented skills among youth as part of Union Budget proposals.

Finance minister P Chidambaram on Thursday allocated Rs. 1000 crore to develop job-oriented skills among youth.

"Assuming that 10 lakh (one million) youth can be motivated in one year, skill-trained youth will give enormous boost in employment and productivity," Chidambaram said while presenting the federal 2013-14 budget to the Lok Sabha.

The finance minister allocated Rs. 1000 crore for the "ambition", saying that it would be a "trigger for skill development in the country".

The National Skill Development Corporation would be asked to set the curriculum and standards for training in different skills.

Trained youth who pass a test at the end of the training period would be given a monetary reward of Rs. 10,000, on an average.