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Updated February 1st, 2023 at 17:01 IST

Budget 2023: What's there for the 'Amrit peedhi'? Stipend support, 30 Skill India Centres

In the first Budget of Amrit Kaal, the Union Finance Minister Nirmala Sitharaman made some major announcements for the youth on Wednesday, February 1.

Reported by: Sudeshna Singh
Budget 2023
Image: SansadTV/Shutterstock | Image:self
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In the first Budget of Amrit Kaal, the Union Finance Minister Nirmala Sitharaman made some major announcements for the youth on Wednesday, February 1. To help the 'Amrit Peedhi' realize their dreams, Sitharaman stressed on the already-formulated National Education Policy, focused on 'skilling, adopted economic policies that facilitate job creation at scale, and have supported business opportunities'.

Pradhan Mantri Kaushal Vikas Yojana 4.0 launched 

The Finance Minister announced the launch of Pradhan Mantri Kaushal Vikas Yojana 4.0. The scheme aims to skill lakhs of youth within the next three years. On-job training, industry partnership, and alignment of courses with the needs of the industry will be emphasized. The scheme will also cover new-age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills.

Besides, to skill the youth for international opportunities, 30 Skill India International Centres will be set up across different States.

The digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform for:

  • enabling demand-based formal skilling
  • linking with employers including MSMEs
  • facilitating access to entrepreneurship schemes.

To provide stipend support to 47 lakh youth in three years, Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme will be rolled out.

Sitharaman started her Budget address at 11 am, the last full Budget of the Modi government in its second term. Like the previous two Union Budget, Union Budget 2023-24 is also presented in paperless form.

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Published February 1st, 2023 at 17:01 IST

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