The Union Cabinet has allocated Rs. 8,800 crore to bolster the Skill India Programme, as announced by Union Minister Ashwini Vaishnaw. This substantial investment underscores the government's commitment to enhancing skill development and creating more opportunities for young people to acquire industry-relevant skills, thereby boosting employability.

The funding will strengthen three core schemes: PM Kaushal Vikas Yojana 4.0 (PMKVY 4.0), the PM National Apprenticeship Promotion Scheme (PM-NAPS), and Jan Shikshan Sansthan for Skill Development.

Minister Vaishnaw emphasized Prime Minister Modi's mission to create youth opportunities, highlighting the program's focus on convergence and quality.

PMKVY 4.0 will prioritize demand-driven skill development, offering training and certification in areas aligned with industry needs. The scheme will emphasize short-term training programs, along with upskilling and reskilling opportunities to ensure individuals can adapt to the evolving job market.

PM-NAPS will provide financial incentives to industries that hire apprentices, facilitating a smoother transition from education to employment through practical, hands-on experience. This initiative will encompass both the manufacturing and service sectors, adhering to the Apprentices Act, of 1961.

Jan Shikshan Sansthan will deliver community-based skill training, focusing on marginalized groups, particularly women and rural youth. This scheme aims to foster self-employment and local entrepreneurship by providing flexible training opportunities directly within communities.

This significant investment in the Skill India Programme reflects the government's dedication to developing a skilled workforce and addressing unemployment challenges, ultimately contributing to economic growth.