FM Nirmala Sitharaman announces new centrally-sponsored skilling scheme
- PC : PTI
Finance Minister Nirmala Sitharaman, during her her Budget speech, announced a new centrally-sponsored skilling scheme that will train 20 lakh youth for a 5 year period. She pointed out that the government will provide 12-month internship opportunities to 1 crore youth in top 500 companies for a 5 year period. The government will give internship allowance of Rs 5,000 per month and a one time assistance of Rs 6000. The companies will bear training cost and 12 per cent of the internship cost.
"I am happy to announce a new centrally sponsored scheme, as the fourth scheme under the PM's package for skilling and collaborations with state governments and industry. 20 lakh youth will be skilled over a five-year period. 1,000 industrial training institutes will be upgraded in hub and spoke arrangements with outcome orientation," said FM Sitharaman.
Highlights from FM Sitharaman speech as follows.
1,000 ITIs to be upgraded in hub and spoke model, says FM in Lok Sabha.
Model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh: Sitharaman.
Govt to provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions: FM.
New centrally-sponsored scheme for skilling in collaboration with states, industry; 20 lakh youth to be skilled over 5 years: FM.
Govt to set up working women hostels to promote women participation in workforce: FM in Budget.
Model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh: Sitharaman.
