Government Unveils Skilling and Collaboration Package

23 Jul 2024 , 12:07 PM

Under the Prime Minister’s comprehensive package for skilling and industry collaboration, the government has introduced a series of initiatives:

• Skilling 20 Lakh Youth: Aimed at enhancing the skills of 20 lakh youth over the next five years.
• Upgrading ITIs: 1,000 Industrial Training Institutes (ITIs) will be upgraded with a Hub and Spoke model focused on outcomes.
• Revised Skill Loan Scheme: The Model Skill Loan scheme will be revised to provide loans up to ₹7.5 lakh, backed by a government-promoted guarantee fund.
• Higher Education Loans: Financial support will be offered for loans up to ₹10 lakh for higher education in domestic institutions, targeting youth who have previously been ineligible for government schemes.