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States to get Rs7,000 crore for skill development

The Union government will disburse around Rs7,000 crore to states to help align them with the centre’s skill development agenda and persuade them to create an ecosystem of entrepreneurship for youngsters.

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The ministry of skill development and entrepreneurship is meeting state skills and labour ministers on Wednesday in New Delhi to draw a road map on it and discuss hand-holding measures it is ready to offer to the states.

The ministry is taking soft loan of $1 billion (nearly Rs6,660 crore) from the World Bank for skill development initiatives and most of the amount will be disbursed to states, according to an internal ministry document. Mint has reviewed a copy of it. Besides, it will disburse some Rs3,000 crore or 25% from the funds earmarked for the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), a flagship skill development scheme of the Union government to train 10 million people over the next four years. The Union cabinet has already approved about Rs12,000 crore for PMKVY earlier this year.

Read More – Mint