FM unveils transformative policies aimed at India's youth

She allocates substantial resources to skill training

She also lays emphasis on skill training

Union Finance Minister Nirmala Sitharaman, in her 2024 budget speech, unveiled a series of transformative policies aimed specifically at empowering India’s youth. Highlighting the government’s commitment to fostering a skilled and employable young workforce, Sitharaman announced five new schemes tailored to address various aspects of youth development.

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One of the key highlights is the introduction of employment-linked schemes designed to bridge the gap between education and employment. In a significant boost to vocational training, the government plans to update 1,000 industrial training centres across the country. This initiative is expected to modernize facilities and curricula, ensuring they meet the evolving demands of the job market.

Moreover, the budget allocates substantial resources to skill training, with an ambitious target of training 20 lakh youth. This initiative will particularly emphasize special skill enhancement programs for women, promoting gender equality in the workforce.

To further support young individuals in their educational pursuits, the government has announced education loans of up to Rs 10 lakh. In a move to make higher education more accessible, one lakh students will benefit from loans at a concessional interest rate of 3%.

Additionally, the budget includes policies specifically targeting Provident Fund schemes for the next four years, ensuring long-term financial security for the youth entering the workforce.

These comprehensive measures underscore the government’s dedication to nurturing a capable and self-reliant youth population, poised to drive India’s economic growth and innovation in the coming years.