Shri. Rajiv Pratap Rudy, Minister of State (I/C) for Skill Development and Entrepreunsip announced Pradhan Mantri Yuva Yojana to promote entrepreneurship education and training. The announcement was made on the occasion of 2nd Foundation Day of Ministry of Skill Development and Entrepreneurship (MSDE) on November 9, 2016.
The announcement was made at a day-long national conference of state ministers on “Skilling with Quality”. Around 80% of the States made their representations in the conference. The conference emphasised on the need for strengthening institutional mechanisms for skill development at the state level to bring more robust framework ensuring quality output, outcome and impact on the youth of our country.
On this occasion, Rudy expressed that the government has taken a significant stride to scale up entrepreneurship in the country. The scheme includes national and international best practices of learning in entrepreneurship education.
The aim of the scheme of is to provide entrepreneurship education and training to over seven lakh students in a span of five years, i.e., 2016-17 to 2020-21. The estimated cost of the project is Rs. 499.94 crore. The students from around 3,050 institutes will be trained under this scheme. The scheme also enables the students to access information and mentor network, incubator, accelerator and advocacy to create a pathway for youth.
So far, IIE and NIESBUD, the two institutions of MSDE trained more than 7 lakh trainees including 2,600 persons from more than 125 countries in the field of entrepreneurship skills. Currently, the two institutes are focusing on mentorship of budding entrepreneurs across the country.
Secretary of MSDE, Rohit Nandan mentioned that the initiative would motivate the first generation entrepreneurs to excel and improve in their entrepreneurial pursuits and should play a significant role in inspiring the people who are a part of country’s ecosystem.