The Union Ministry of Skill Development and Entrepreneurship (MSDE) on 9 November 2016 launched the Pradhan Mantri YUVA Yojana to boost up an ecosystem of entrepreneurship for young people.
Highlights of the Yojana
• The scheme was launched for the time period of over five years (2016-17 to 2020-21) with a project cost of 499.94 crore rupees.
• It will offer entrepreneurship education and training to around 7 lakh students in 5 years through 3050 Institutes.
• It will also offer easy access to information and mentor network, credit and advocacy to build a way-out for the youngsters.
• The institutes under the Yojana include 2200 Institutes of Higher Learning (colleges, universities, and premier institutes), 300 schools, 500 ITIs and 50 Entrepreneurship Development Centres.
• These institutes will carry out the training through Massive Open Online Courses (MOOCs).
• The Ministry also unveiled the guidelines for State Engagement under Pradhan Mantri Kaushal Vikas Yojana 2.0 (2016-2020). It allocated around 3000 crore rupees for the States to achieve its target of training 10 million people in over 4 years.
• It also launched the Lab Guidelines towards standardisation of lab equipment across skill development training centres in India.
• MSDE announced the institutionalisation of National Entrepreneurship awards for first generation achievers below 30 years for the very first time. The Entrepreneurship Awards will be given on 16 January 2017.