Introduction:
India is at a critical juncture where equipping its workforce with essential skills is key to fostering economic growth and social equity.
The country must develop a comprehensive plan to ensure every individual has access to vocational and occupational skills, opportunities to upskill for better job quality, and reskill to adapt to emerging technologies and tools.
Body:
Union Budget 2024 emphasizes a robust framework for youth development, prioritizing the Ministry of Skill Development and Entrepreneurship (MSDE) to drive economic growth and empower the youth.
Key initiatives include:
- Centrally Sponsored Projects: A plan to train 20 lakh young people over the next five years, addressing both employment and skill gaps.
- Industrial Training Institutes (ITIs): Major investment in upgrading ITIs, with 100 institutes benefiting from Rs 60,000 crore, following a hub-and-spoke model.
- National Institutes Expansion: Expanding the capacity of five national institutes, aligning ITI training with industry demands to support 20 lakh students.
- Model Skill Loan Scheme: Revised to provide up to Rs 7.5 lakh in loans with government-backed guarantees, benefiting 25,000 students annually and focusing on employment outcomes.
- Skill India Mission: Encompasses major schemes like PM Kaushal Vikas Yojana (PMKVY), PM Vishwakarma, Green Hydrogen Mission, and AI for India, helping millions of youth adapt to dynamic job markets.
- Example: PMKVY has trained over 1 crore individuals in areas like healthcare, IT, and construction, creating employment opportunities in both rural and urban regions.
- Apprenticeship Training: A crucial element in skill development. The revision of the Apprentices Act of 1961 has made it easier to integrate apprenticeships into the educational system, with the government covering a portion of stipends under the National Apprenticeship Promotion Scheme (NAPS).
- Example: Companies like Maruti Suzuki and Tata Motors have significantly increased apprenticeships, leading to a skilled workforce aligned with industry needs.
- Skill India Digital Hub (SIDH): A digital platform to consolidate all skilling and entrepreneurial efforts, creating a one-stop solution for skilling information and resources.
Conclusion:
India stands on the brink of becoming the largest contributor to the global workforce. The aim should be to transform the country into a global hub for innovation, skills, and entrepreneurship.
In rural India, skilling initiatives are vital for ensuring access to sustainable livelihood opportunities, fostering both economic resilience and social cohesion.