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pradhan mantri jan aushadhi yojana, pmjay

Pradhan Mantri Yuva Yojana Scheme

Pradhan Mantri Yuva Yojana

Under the guidance of Prime Minister, the Central Government of India is trying to offer a lot of facilities to the Youth of our nation. Since 2014, the Modi government is interested in boosting up the employment and living standard of the people, particularly the young people. With the Start-up India Scheme, the government lets young entrepreneurs set their business instead of enrolling themselves in any jobs. In last year, the emerging entrepreneurs have received a huge chunk of money from the central government to promote their innovative products & services. For the youth of the nation, the government has now come up with another encouraging scheme, which is nothing but Pradhan Mantri Yuva Yojana. This scheme is particularly meant for non-skilled entrepreneurs who are provided with skill development programs to better shape their future.

Key Features of Pradhan Mantri Yuva Yojana

  • On November 9, 2016, this scheme was launched by the Ministry of Skill Development & Entrepreneurship on the event of national conference
  • This scheme mainly targets young entrepreneurs who will get an opportunity to know about learning facility and skill development programs under this scheme
  • There are more than 3000 schools, colleges, and other educational centers where the aspirants are provided with an opportunity to study in the coming 5 years of time.
  • Around 2200 higher educational organizations such as colleges, universities, and premier institutions, 300 schools, 500 ITIs and 50 entrepreneurship & skill development centers are found under this scheme
  • With the help of this scheme, the entrepreneurs are likely to get access to mentor networks and information in addition to supporting unique features for emerging entrepreneurs.
  • The trainees can also able to get study materials by easily sitting at home with the help of online training procedures being granted to the concerning schools, colleges as well as other universities.
  • Under this scheme, lab guidelines are also declared by MSDE. As stated, there are nearly 50 skill development bodies involved in this scheme and the labs available in these institutions should have proper provisions for trainees. Moreover, they will also look into the job profiles to help trainees in each and every sense.
  • MSDE will also honor young entrepreneurs whose contribution is found to be large in developing the real economic assets in several ways.

Chief Objectives of Pradhan Mantri Yuva Yojana

  • The purpose of this scheme is to support the young generation and even, make them professionally strong to compete globally. At the time of Start-up India Scheme, many a number of entrepreneurs are found without an idea regarding the business or even without the proper skill to progress in their respective field. So, MSDE has now come up with this scheme to offer them learning and proper guidance.
  • This scheme is for young and emerging individuals who are just educated yet found without enough skills and knowledge to face worldwide competition. But, they will able to develop much easier and faster by availing the training provided by PMYY scheme
  • The reason why award giving ceremony has introduced is to motivate and encourage young people below 30 years of age in order to contribute to the nation’s entrepreneur ecosystem through a number of innovative ways. In general, this scheme aims for the development of our nation’s economy.

Who Are The Beneficiaries Of PMYY Scheme?

The Pradhan Mantri Yuva Yojana is mainly for young entrepreneurs of India. Other than this, no eligibility criteria have set to avail the scheme. So, anyone below 30 can surely get benefit from it.

Advantages of Pradhan Mantri Yuva Yojana:

In our Indian economy, the biggest issue is said to be the imbalance exist between employment and GDP. Because of several reasons, most of the educated people are still unemployed. Every now and then, a new government has come into power with an assurance of providing jobs, but, unfortunately, they cannot able to make them fulfill. But, Modi has achieved it by launching a scheme of Start-up India through which people could able to start their very own businesses rather than seeking for jobs.

By following the Start-up India Scheme, the PMYY scheme helps the young individuals to learn and develop skills required to deal with the business whereas the Start-up India scheme has helped people in setting up their own innovative businesses.

Another advantage which young people obtained from this scheme is none other than motivation given to the contribution made to the economic development of our nation. They will also be provided with skill development training and much more.

Budget/Funding Of PMYY Scheme

The first phase of the project is started with a time span of five years. For the next five years, the allotted budget will be Rs. 499.94 Cr. The funding would be done by both the State and Central Government.

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