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Govt to provide easy loans for skilled youth, create 70 lakh new jobs in a few months

Skill Development and Entrepreneurship Minister Mahendra Nath Pandey said more than 62 percent of India’s population is young and it is the Prime Minister’s vision to make India one of the largest skilled economies in the world.

Team SMB
10th Jul 2019
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Union Minister of Skill Development and Entrepreneurship Mahendra Nath Pandey said India needs more than 70 lakh skilled manpower in the coming months “due to unleashing of economy”, adding that “more than 62 percent of India’s population is young and it is the Prime Minister’s vision to make India one of the largest skilled economies in the world.”


According to a government statement, Pandey was speaking at an institute in New Delhi when he highlighted the fact that the beauty and wellness sector in India has a market potential of Rs 80,000 crore and can provide employment opportunities to lakhs of people. 


“Skilling courses are an important tool of women empowerment as the students can set up wellness and beauty centres by availing easy loans like MUDRA and can also motivate others for such gainful employment opportunities,” he said.


Pandey added that the National Skill Development Mission (Skill India Mission), launched on July 15, 2015 under the guidance of Prime Minister Narendra Modi, has been steadily making progress.  


“Nearly one crore youth are being given skill training every year under several programmes of the government through the Skill India Mission. India is a young nation and a skilled workforce will be able to cater to the market demand within the country and also the global market,” he said.


Pandey’s statements come a day after Union Minister for MSME Nitin Gadkari backed the government’s skill development initiatives under the Prime Minister's Employment Generation Programme (PMEGP).


Gadkari had said that Entrepreneurship Development Programme (EDP) is being provided to PMEGP beneficiaries through Rural Development and Self Employment Training Institutes (RUDSETI)/(RSETIs) and Khadi and Village Industries Commission (KVIC), KVIB training centres as well as other national level Entrepreneurship Development Institutes (EDIs).


"To bring in transparency and expedite disbursement of Margin Money under PMEGP scheme, the Ministry of MSME has introduced online Margin Money disbursement directly to financing bank branches," Gadkari had said.


(Source: PIB)




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