Launched in 2015, the Skill India Mission is a comprehensive government initiative designed to enhance the skill sets of India's youth. As an umbrella scheme, it encompasses a range of skilling programs and schemes aimed at equipping individuals with the necessary skills to secure employment in various sectors, thereby boosting productivity across the nation.
The primary objective of the Skill India Mission is to empower young people by providing them with the technical and vocational training required to meet the demands of the job market. By focusing on skill development, the initiative not only aims to increase employment opportunities but also strives to improve overall economic productivity.
With the Skill India Mission empowering youth through training and entrepreneurship, many dream of starting their own ventures. But getting the right funding can be tough. That’s where a loan against property from Bajaj Finance can help. You can unlock funds up to Rs. 10.50 crore* at attractive interest rates, with flexible repayment options, making it easier to invest in your business ideas and turn skills into success. With the Skill India Mission empowering youth through training and entrepreneurship, many dream of starting their own ventures. But getting the right funding can be tough. That’s where a loan against property from Bajaj Finance can help. You can unlock funds up to Rs. 10.50 crore* at attractive interest rates, with flexible repayment options, making it easier to invest in your business ideas and turn skills into success. Enjoy lower EMIs starting from Rs. 750/lakh* and longer repayment tenures.
As part of the broader government efforts to address skill gaps, the Skill India Mission plays a crucial role in the nation's workforce transformation, ensuring that individuals are job-ready and capable of contributing meaningfully to various industries.
Skill India is also a key topic within the UPSC syllabus, emphasizing its importance in India's development trajectory.
The Skill India Scheme is a smart initiative that works toward the development of the country. Here’s all you need to know about this mission.
What are the objectives of the Skill India programme?
The main objective of the Skill India programme is to provide adequate training in market-relevant skills to over 40 crore youth by 2022. It also aims to create opportunities for the development of talent within the country and improve the overall scope and space for underdeveloped sectors. It does so with assistance from the National Skill Development Corporation or NSDC.
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What are the components of Skill India’s PMKVY?
The Pradhan Mantri Kaushal Vikas Yojana is deemed as Skill India’s flagship skill development scheme. Its objective is to enable youth to take up training to secure a better livelihood. Assessment and training fees under this scheme are covered by the Government, and individuals with prior experience can get certified.
Components of Skill India Pradhan Mantri Kaushal Vikas Yojana are as follows:
- Short-term training: Under this module, training is provided to college/ school dropouts and the unemployed. People are empowered per the National Skills Qualification Framework and also in fields like soft skills, digital literacy and entrepreneurship.
- Kaushal and Rozgar Mela: This module encourages active participation from the community to foster transparency and accountability.
- Recognition of prior learning: Individuals with prior experience get certified and receive access to Bridge Courses to cater to knowledge gaps.
- Special projects: Those training programmes that deviate from the standard framework find a place within this facet of the scheme.
- Monitoring guidelines: To ensure that quality is maintained at the designated training centres, the scheme undertakes proper monitoring of the centres.
- Placement guidelines: To ensure that a skilled workforce is guided into the right field as per the demands of the market, the scheme follows strict placement rules.
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Why is the Skill India Mission necessary?
The Skill India Mission is essential to address the gap between the demand for skilled labour and the available workforce. By providing training and enhancing employability skills, it aims to empower individuals with the necessary capabilities to meet the evolving needs of industries, fostering economic growth and development.
Courses offered under the Skill India Mission
Various courses are broadly divided into 5 main categories for Skill India courses, which include:
- Management and development programmes: Financial statement analysis, modern office practice, marketing for managers, etc.
- Training of trainer: Accreditation program for EM trainers, technology infusion, etc.
- Entrepreneurship development programmes: Women EDP, women empowerment, CRR scheme, etc.
- Skill development programmes: Dairy based ESDP, carpentry, electroplating, fashion designing, etc.
- Other skills: Promotion of micro-enterprises, cluster development, lending strategies for MSMEs, etc.
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What are the benefits of the Skill India programme?
The Skill India programme has numerous benefits. For instance, with proper skill development, the youth of India can access better-paying jobs and experience a higher standard of living. Further, with proper development at the grassroots level, every sector within the economy will experience equal growth. Lastly, with trained Indians entering the workforce, better results can be achieved at a quicker pace, which has the potential to boost the country’s economic growth.
Features of Skill India
- Comprehensive skill development: Skill India offers a wide range of training programs across various sectors, including manufacturing, healthcare, IT, construction, agriculture, and more.
- Focus on youth empowerment: The initiative is designed to equip young Indians with industry-relevant skills to improve their employability and productivity.
- Collaboration with industry: Skill India works closely with industry leaders to ensure training programs are aligned with market needs, enhancing job-readiness for trainees.
- Multiple training platforms: The mission includes various sub-schemes such as Pradhan Mantri Kaushal Vikas Yojana (PMKVY), National Skill Development Corporation (NSDC), and Skill Development Centres, offering diverse training options.
- Online registration and certification: The Skill India platform provides an easy, user-friendly registration process for both candidates and trainers, with certification upon successful completion of training.
- Boosting entrepreneurship: Skill India promotes self-employment by training individuals in entrepreneurship and vocational skills to start their own businesses.
- Focus on inclusive growth: The mission emphasizes skill development for marginalized groups, including women, rural youth, and differently-abled individuals, fostering inclusive growth.
What are the schemes for skill development launched by Government of India
The schemes for skill development in India are as follows:
- Pradhan Mantri Kaushal Vikas Yojana
- Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP)
- UDAAN
- Standard Training Assessment and Reward Scheme (STAR)
- Polytechnic Schemes
- Vocationalisation of Education
How can Bajaj Finance help you in pursuing the Skill India courses?
Trained candidates can also secure Skill India jobs and use it as a platform to boost their economic status. Alternatively, with the skills you learn through the initiative, you can also establish yourself as an entrepreneur and set up your own business. However, for a venture such as this, you will need sizable funding. Thankfully, you can opt for a secured borrowing option like the Bajaj Finserv Loan Against Property.
You can get a loan of Rs. 10.50 crore*, if you have a strong credit profile at low loan against property interest rate. Further, you can also qualify for this secured loan easily as it has lenient eligibility criteria and repay it conveniently over a flexible tenure of up to 15 years*. You can get access to your funds within 72 hours* of the approval.
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The Skill India Mission promotes entrepreneurship, but every startup needs solid financial backing. With Bajaj Finserv Loan Against Property, you get access to funds up to Rs. 10.50 crore* with flexible tenures of up to 15 years*. This lets you invest in your business idea without sacrificing financial stability. It’s a smart way to convert your skills into a sustainable livelihood. Get loan of up to Rs. 10.50 crore against your property within 72 hours* of the approval.
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