NEP formulated to empower youth: Nirmala Sitharaman tells in her Union Budget speech

New Delhi: To empower our youth and help the ‘Amrit Peedhi’ realize their dreams, we have formulated the National Education Policy, focused on skilling, adopted economic policies that facilitate job creation at scale, and have supported business opportunities, said Union Minister for Finance & Corporate Affairs Nirmala Sitharaman while presenting the Union budget 2023-2024 in Parliament here on Wednesday.

IBNS • 1 Feb 2023, 03:50 pm

Union Budget 2023-2024 adopts seven priorities, which complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal. Youth Power is one of the priority areas which include Skill Development.

Pradhan Mantri Kaushal Vikas Yojana 4.0

The Finance Minister announced that Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched to skill lakhs of youth within the next three years.

The scheme will emphasize on On-job training, industry partnership, and alignment of courses with needs of industry.

She further highlighted 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.

Sitharaman also proposed to set up 30 Skill India International Centres across different States to skill the youth for international opportunities.

National Apprenticeship Promotion Scheme

The Minister announced the roll-out the Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme to provide stipend support to 47 lakh youth in three years.