New Delhi, October 11 (IANS). India has started its journey towards becoming the skill capital of the world. The employable percentage of final year and pre-final year students was 33.9 percent in 2014, which increased to 51.3 percent in 2024. The central government gave this information on Friday.
According to the Ministry of Skill Development and Entrepreneurship, India, one of the countries with the youngest population in the world, can take advantage of its young population through a workforce that is trained in ’employable’ skills and is industry ready.
Let us tell you that one of the main initiatives launched with the aim of providing skills to the youth is the Prime Minister Internship Scheme. The scheme aims to provide comprehensive internship opportunities to one crore youth in the top 500 companies of the country in five years.
The initiative, announced in the Union Budget 2024-25, will offer 12-month internships to help youth gain practical experience in a real-life business environment, thereby bridging the gap between academic education and industry needs. Will be able to go.
The pilot project, launched on October 3, aims to provide 1.25 lakh internships for the financial year 2024-25, with top companies identified based on their CSR spend.
The scheme operates independently of existing skill development programs and emphasizes on enhancing employability through practical experience. The portal of the scheme will open for the candidates on October 12.
The Internship Scheme offers a 12-month internship which aims to provide young individuals with real-world job experience. Interns get Rs 5,000 per month for 12 months. Out of this, the company gives Rs 500 from its CSR fund and the government transfers Rs 4,500 to the bank account linked to the intern’s Aadhaar.
A one-time grant of Rs 6,000 will be distributed to each intern through Direct Benefit Transfer by the government upon joining the intern at the internship location. The expenditure related to the training of interns under the scheme will be borne by the company from its CSR funds as per the existing rules.
Insurance coverage will also be provided to each individual trainee under the insurance schemes of the Government. Apart from this, the company can also provide additional accident insurance coverage to the trainees.
Another skill development effort is the Indian Institute of Skills. Recently Prime Minister Narendra Modi inaugurated the Indian Institute of Skills in Mumbai.
According to the ministry, the IIS has been designed for Industry 4.0, providing training in areas such as factory automation, digital manufacturing, mechatronics, Artificial Intelligence (AI), data analytics and additive manufacturing.
–IANS
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