Prime Minister Narendra Modi to unveil the new National Policy for Skill Development and Entrepreneurship on the occasion of World Youth Skills Day on Wednesday; The policy will be India’s first integrated national scheme for developing skills at a large scale.
As part of government’s efforts to create a large pool of skilled workforce required to sustain the ‘Make in India’ initiative, Prime Minister Narendra Modi will launch the National Skill Development Mission on 15th July.
As it prepares to surge ahead in the 21st century, India stands at the cusp of the demographic revolution and young surge. Being one of the youngest country in the world, it can tap the young population to realize its full potential.
And Pradhan Mantri Kaushal VikasYojana is the scheme that will seek to channel the young energy for necessary skills upgrade. The flagship outcome-based skill training scheme of the Government of India will be implemented through the National Skill Development Corporation (NSDC).
The objective is to enable and mobilize a large number of Indian youth to take up outcome-based skill training and become employable to earn their livelihood.
Initial target is to impart skill and training to 24 lakh persons.The government is planning to invest Rs. 1 Lakh crore to train more than 40 crore people over the next five years.
10 million non-certified workers in the unorganized sector will be authenticated. A ‘Skill Loan’ initiative will be launched at the event, where loans from Rs 5,000-1.5 lakhs will be available to more than 34 lakh youth of India, who seek to attend skill development programmes, over the next five years.
By 2020 India is set to experience a dynamic transition as the population burden of the past turns into a demographic dividend, with 64% of the population in the working age group.
Current predictions suggest a steady increase of the youth population to 464 million by 2021 from 430 million in 2011 making it one of the youngest countries in the world.
The entire idea of celebrating World Youth Skills Day on a large scale is to underscore the significance of skill training, vocational education and entrepreneurship amongst the youth of this country.