Budget 2023: 47 Lakh Youth to Get Benefit of National Apprenticeship Promotion Scheme

Today, while presenting the Union Budget 2023, Finance Minister Nirmala Sitharaman announced the commencement of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0, which aims to advance skill development in the nation.

PMKVY 4.0 emphasizes skill development of the youth to facilitate and boost international exposure and new opportunities by setting up a total of 30 new skill India International centers in the country.

A pan-Indian direct benefits transfer (DBT) National Apprenticeship Promotion Scheme would be implemented to pay stipends to 47 lakh youth over the course of three years. A list of courses has been announced which are to be incorporated under the scheme. Coding, artificial intelligence, drone technology, IoT, robotics, are of the few mentioned.

With an emphasis on skilling, reskilling, and upskilling, the Skill India project was established in 2015. Through more than 20 central ministries and departments, the government has been putting various skill development programmes into place all around the nation. Launches of PMKVY 1.0, 2.0, and 3.0 took place in 2015, 2017, and January 2021, respectively.

In her speech, Union Minister stressed on seven of the budget's top categories through the coming 25 years. These seven objectives were called ‘Saptarishi’ because they are complementary to one another and will act as a guiding light through the Amrit Kaal.

The government's objective for this Amrit Kaal budget includes an innovation and technology-driven and knowledge-based economy, as well as sound government finances and a thriving financial sector. This budget is the first to be passed under the Amrit Kaal.

Green growth, youth power, inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, and establishing digital platforms are the seven themes and priorities that the Minister adopted in Amrit Kaal's first budget.