pradhan mantri kaushal vikas yojana: Govt to launch Pradhan Mantri Kaushal Vikas Yojana 4.0: FM Nirmala Sitharaman

pradhan mantri kaushal vikas yojana: Govt to launch Pradhan Mantri Kaushal Vikas Yojana 4.0: FM Nirmala Sitharaman

Budget 2023 aims to give a push to job creation through proposals such as Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 and setting up of 30 Skill India international centres that would encourage expansion in businesses and industry, thus leading to more jobs.

“30 Skill India international centres will be set up across states,” Finance Minister Nirmala Sitharaman on Wednesday announced in her budget speech.

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development and Entrepreneurship (MSDE) implemented by National Skill Development Corporation. The objective of this Skill Certification Scheme is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).

Reacting to the Budget 2023, Lejo Sam Oommen, MD ETS India said,“The Union Budget has provided an excellent roadmap for upskilling of youth in the country – this will provide impetus to growth and job creation for India’s young demographic.”
“The decision to set up 30 Skill India International Centres across different states have the potential to meet the human resource needs of not just India but also global markets. Likewise, the apprenticeship scheme that will benefit 4.7 million youth could also support resourcing in global markets. This budget truly paves the way for internationalization of not just education but also India’s skilling prowess,” Oommen added.

Speaking after the Budget announcement, Ratnesh Jha, CEO Burlington Group said, “The Union budget of this year is positioned to take India to the world in the “Amrit kaal”. The Hon’ble FM has rightly laid out the longer-term vision for technology-driven and knowledge-based economy with schemes such as PM Kaushal Vikas Yojana 4.0 designed to upskill youth and them employable. Our young population will need the right set of language and soft skills along with tech exposure to meet the growing demands of the industry, and budget 2023 lays a perfect foundation to enable that.”

In the run-up to Budget 2023, job creation was being seen as one of the biggest challenges staring at Finance Minister Nirmala Sitharaman, with analysts saying that inclusive growth will only happen if employment generation — especially in manufacturing — happens.Defence, MSME, rural and cottage industries are seen as some of the areas that can generate employment in a major way.

In India, the jobs scenario is yet to regain pre-pandemic levels, with employment recovery slower for youth and women, according to estimates by the likes of Ashoka University and CMIE.

Recent numbers show that India’s unemployment rate remains among the highest for emerging economies.

In October, nearly 14 million fewer workers — 4.5 million fewer men and 9.6 million fewer women — were employed compared to January 2020.

While post-lockdown stability in urban employment has been hurt by volatility in rural hiring, growth of entry-level jobs is being affected by demand for skills in higher-age brackets, data shows.

Some of the major issues that obstruct job creation in India include inadequate infrastructure, stark male-female gap in workers’ participation, a pending modern labour code, overdependence on services sector, income disparities and poverty, and pervasive regional imbalance..

Budget 2022 had set a target for creating six million jobs in five years. The past one year’s job generation trends have, however, been mixed.

India’s jobs situation usually becomes a hot topic around budgets. But this year the matter has assumed an added urgency given the fact that India is about to overtake China as the world’s most populous country.

Source link

Author: Shirley