Govt. launched Pradhan Mantri Yuva Yojana for budding entrepreneurs

The Ministry of Skill Development and Entrepreneurship launched Pradhan Mantri Yuva Yojana, a ~INR500 crore project to scale up entrepreneurship in the country. The scheme will provide entrepreneurial education and training to over 7 lakh students in 5 years though 3,050 institutes. The institutes taking part in the project include 2,200 higher learning institutes (colleges, universities), 300 school, 500 ITI, and 50 entrepreneurship development centers through Massive Open Online Courses (MOOC).

Skill Development and Entrepreneurship Minister Rajiv Pratap Rudy said two institutions under the Ministry of Skill Development and Entrepreneurship (MSDE) dedicated to entrepreneur education and training — NIESBUD and IIE — have already trained more than 7 lakh trainees including 2,600 persons from more than 125 countries in entrepreneurial skills till date.

The ministry also unveiled the guidelines for state engagement under Pradhan Mantri Kaushal Vikas Yojana 2.0 (2016-20).The guidelines provide a framework for the state government’s role and processes, the funding support and the scheme’s implementation and monitoring mechanism.

MSDE has allocated around Rs 3,000 crore of 25 per cent from the funds earmarked for the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to the states to achieve its target of training 10 million people over 4 years.