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Budget for stipend to 47 lakh youth under apprenticeship scheme

To give impetus to the youth and help the ‘Amrit Peedhi’ realise their dreams, Finance Minister Nirmala Sitharaman on Wednesday said that the government has formulated the National Education Policy, focused on skilling, adopted economic policies that facilitate job creation at scale and to support business opportunities.

In her Budget 2023-24 speech in Parliament, the Minister also announced the roll-out direct benefit transfer under a pan-India National Apprenticeship Promotion Scheme to provide stipend support to 47 lakh youth in three years.

The Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched to skill lakhs of youth within the next three years and emphasise on on-job training, industry partnership, and alignment of courses with needs of industry.

“The scheme will also cover new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills,” Sitharaman said.

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