The union government's skill development scheme Pradhan Mantri Kaushal Vikas Yojana (PMKVY) will now train youngsters in various languages and skills like Artificial Intelligence, Internet of Things, Big Data, 3D printing, Virtual Reality and robotics. The aim is to equip Gen Y with skills which are valued highly and offers a higher remuneration, both in India and abroad. This was announced by the Union Finance Minister Nirmala Sitharaman.
Sitharaman, who began by saying that "this government believes in the teachings of Lord Basaveswara," went on to say that the skill development will be implemented, following the philosopher's 'kayakave kailasa'. "10 million youth will be taking up industrial skill training through the Pradhan Mantri Kausal Vikas Yojana," she said. "Trends worldwide show that major economies will face major labour shortage in the future. To prepare our youth to take up jobs overseas, we'll focus on skills needed abroad, including language training," she added.
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India's first full-time woman finance minister Nirmala Sitharaman presented her maiden union budget at 11 am on July 5. Sitharaman reached the Parliament an hour ahead of time with the budget document folded in a red traditional cloth sealed with the government seal. Analysts and the media had predicted that her first budget will be focused on the middle class and the poor and that it will take the SoPs presented in the interim budget by Piyush Goyal in February further. Sitharaman has to deal with income tax exemption slabs, unemployment and form a pro-janta budget with the added task of pulling the country out of a five year low. With former Education Minister Prakash Javadekar promising that the government will try its best to spend 6 per cent of the GDP on education and the PM stressing on the youth development and innovation, eyes are on Sitharaman's budget to bring the change.
