NEW DELHI: India’s Finance Minister Nirmala Sitharaman in Budget 2023 speech said that the Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched is a significant step towards skilling lakhs of youth in the country.
This new initiative aims to provide on-job training, industry partnership, and courses aligned with the needs of the industry. It also emphasizes new-age courses for Industry 4.0 such as coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills.
The importance of this announcement lies in its ability to provide a much-needed boost to the country’s job market. By providing industry-relevant skills, the scheme will help bridge the skills gap and create job opportunities for the youth.
Moreover, the emphasis on new-age courses for Industry 4.0 will help the country stay ahead in the technological race, providing a competitive advantage to the Indian workforce in the international market.
The move will allow the youth to acquire skills that are in demand globally and increase their chances of getting employed overseas.
Pradhan Mantri Kaushal Vikas Yojana 4.0 is a timely and necessary initiative that has the potential to make a lasting impact on the lives of lakhs of youth in India. By providing industry-relevant skills, it will help the youth acquire better job opportunities and increase their chances of employment in the international market. The launch of this scheme is a step in the right direction for the Indian government, and it is expected to have a positive impact on the country’s economy and workforce.
The digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform for:
- enabling demand-based formal skilling,
- linking with employers including MSMEs, and
- facilitating access to entrepreneurship schemes.
National Apprenticeship Promotion Scheme
To provide stipend support to 47 lakh youth in three years, Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme will be rolled out.
Sector specific skilling and entrepreneurship development will be dovetailed to achieve the objectives of the ‘Dekho Apna Desh’ initiative. This was launched as an appeal by the Prime Minister to the middle class to prefer domestic tourism over international tourism.
For integrated development of theme-based tourist circuits, the ‘Swadesh Darshan Scheme’ was also launched. Under the Vibrant Villages Programme, tourism infrastructure and amenities will also be facilitated in border villages.