UP youth to gain extensive skill training and employment opportunities from 2024-25 budget.

Lucknow : The General Budget 2024-25, presented on Tuesday by Finance Minister Nirmala Sitharaman, includes provisions that will significantly benefit the youth of Uttar Pradesh. These measures will enable lakhs of young people to receive skill training in large numbers and enroll in future employment-oriented courses. Additionally, they will have access to loans for skill training.

The Finance Minister’s announcements aim to enhance the skills of a vast number of youths in the state and across the country and open up new employment opportunities for them. This focus on youth skill development marks a notable step towards addressing the employment needs of the younger generation.

*Skill development is a priority for Yogi govt*

Kapil Dev Agarwal, the Minister of Vocational Education, Skill Development, and Entrepreneurship (Independent Charge) in Uttar Pradesh, said that significant steps have already been taken for the skill development of the youth in the state under the guidance of Prime Minister Narendra Modi and the leadership of Chief Minister Yogi Adityanath. The new provisions in the 2024-25 budget will undoubtedly benefit the youth of the state and help them get trained and access new employment opportunities, he added. 

“The model skill loan will provide financial assistance to students from weaker sections, and the upgrade of 1,000 industrial training institutes will strengthen industrial education in the state,” he stated further. 

He informed that over the past seven years, lakhs of youths have been trained and employed through the Skill Development Mission in the state. In 2023-24, 208,000 people were trained, with 121,000 youths receiving employment opportunities. Since the formation of the Yogi government in 2017, more than 16 lakh 38 thousand youths have been trained, with around 5 lakh 69 thousand gaining employment.

*Key announcements*

Nirmala Sitharaman made several important announcements, including a new scheme for skill training under the Prime Minister’s Package in collaboration with the state government and industries. Additionally, 20 lakhs youths will receive skill training over a five-year period. A results-oriented approach will be adopted to upgrade 1,000 industrial training institutes in a hub-and-spoke arrangement. The curriculum and framework will be developed according to the skill requirements of the industry, and new courses will be introduced to meet emerging needs.

Furthermore, the government will revise the Model Skill Loan Scheme to provide loans up to Rs 750,000 with enhanced fund guarantees, benefiting 25,000 students annually.