Interim Budget
Encouraged by the run- away success of the skill development program started during the second half of last year, Finance Minister, in his interim Budget presented to the Parliament, has made a proposal to allocate Rs 1,000 crore to the National Skill Development Trust to further boost the program to newer heights. In fact, the scheme has been widely hailed as a success. In this connection, it may be recalled that to leverage the demographic dividend, the government had last year announced the National Skill Certification and Monetary Reward Scheme to encourage youth to voluntarily enroll in institutions by providing them an incentive of Rs 10,000 to undergo training. The idea was to train 10 lakh youth within a year from the date of implementation of scheme. Besides, the government allocated Rs 100 crore to the India Inclusive Innovation Fund under the ministry of micro, small and medium enterprises. The fund, which was launched with an initial corpus of Rs 500 crore, will encourage grass root innovations to help the youth belonging to the lowest strata of society and is expected to be scaled up to Rs 5,000 crore subsequently.