Taking the skill development agenda to next level, the Centre has allocated ₹1,700 crore in the Budget to set up 1,500 Multi Skill Training Institutes (MSTIs) across the country.
“As announced, we will be creating 1,500 MSTIs which will basically be the new generation ITIs set up in public-private-partnership mode,” said Rajiv Pratap Rudy, Minister of State for Skill Development and Entrepreneurship and Parliamentary Affairs, in a statement.
“The creation of multi-skill institutes will go a long way in skilling the people in the sectors that are urgently required by the industry. This coupled with the focus on entrepreneurship and tax benefits for start-ups will give the much required boost to job creation in the country,” said Manish Mohan, Executive Vice-President, Skills Development Network, Wadhwani Foundation.
The institutes will be set up in those blocks and districts of the country which are yet to focus on skill development.
The Centre has also decided to set up a National Board for Skill Development Certification in partnership with the industry and academia to achieve its target. “The newly formed board will see representation from both government and industry, which will collectively enable a joint framework for quality skill assessment,” said Rudy.
Also, entrepreneurship education and training will be provided in 2,200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through Massive Open Online Courses.
“Aspiring entrepreneurs, particularly those from remote parts of the country, will be connected to mentors and credit markets,” said Finance Minister Arun Jaitley in his Budget speech.
He said, in order to incentivise creation of new jobs in the formal sector, the government will pay the Employee Pension Scheme contribution of 8.33 per cent for all new employees enrolling in EPFO for the first three years of their employment.
The scheme will be applicable to those with salary up to ₹15,000 per month and a budget provision of ₹1,000 crore has been made for this.
“We propose to further scale up Pradhan Mantri Kaushal Vikas Yojana to skill one crore youth over the next three years,” added Jaitley.