Spending on Training and Job creation in Budget 2023

What is the plan of Government of India to tackle the unemployment in country?

As per union budget 2023, finance minister says that there is going to be special focus on skilling and apprenticeship programs to ensure youth are equipped to meet the demands of future employment.

Finance Minister Nirmala Sitharaman said, “The budget makes the need once again to ramp up the virtuous cycle of investment and job creation.” And investment would be increased by 33 percent to Rs 10 lakh crore, which is 3.3 percent of the total GDP.

Some of the important schemes mentioned in budget speech which aim to generate employable youth in the country:

Skill India International Centers

Finance minister Nirmala Sitharaman said that the “government aims to skill lakhs of youth for over three years with enabled demand-based skilling and sector-specific skilling i.e. they will be trained with skills that are relevant in the industry”.

To this end, finance minister said:

• Government will set up 30 Skill India International Centers

•  This will ensure job creation under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

• These centers will focus on skills like coding, artificial intelligence, robotics, mechatronics, Internet of Things (IoT), and 3D printing drones, among other useful skills.

Since there is need to bridge the divide between education and employment opportunities, these PMKVY skill development centers will equip the youth workforce with the skills necessary to meet the demand of the future employment.

For details visit: https://msde.gov.in/en/schemes-initiatives/schemes-initiatives-through-nsdc/india-international-skill-centres-IISCs

National Apprenticeship Promotion Scheme

Finance minister Sitharaman also announced the National Apprenticeship Promotion Scheme. This scheme will provide stipend support to 47 lakh youth over three years.

“A Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme will be rolled out,” she stated.

Government is aiming for a long-term sustainable skill development, in above scheme there is special focus on futuristic technologies like AI and cloud computing.

For details: https://www.apprenticeshipindia.gov.in/

Eklavya Model Residential Schools

Finance minister said that to empower the youth and help the ‘Amrit Peedi’, the National Education Policy 2020 has “focused on skilling, adopted economic policies that facilitate job creation at scale, and have supported business opportunities.”

Finance minister announced that in the next three years, the Centre will recruit 38,800 teachers and support staff for the 740 Eklavya Model Residential Schools.

For details: https://tribal.nic.in/EMRS.aspx#

Aspirational Districts Program

Finance minister Nirmala Sitharaman also proposed the launch of the ‘Aspirational Districts’ program, which will enable the underprivileged districts of the country to benefit from the government’s developmental initiatives. The program will focus on improving the quality of education, healthcare, and other essential services in these districts.

For details: https://www.niti.gov.in/aspirational-districts-programme

Construction of schools, bridges, and other infrastructure

As per Finance minister there will be focus on raising capital spending on the construction of schools, bridges, and other infrastructure.

Apart from above listed programs, there are some other schemes like ‘Blueprint’ program for an integrated approach to vocational training and skill development, Bright Star program for a scheme which will enable students to receive special financial incentives for pursuing higher education and ‘Nayi Pahal’, a scheme for imparting market-ready skills to the youth.