Pradhan Mantri Yuva Rozgar Yojana – Complete Details

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Pradhan Mantri Yuva Rozgar Yojana – Government has brought another encouragement scheme for the youth of the country known as Pradhan Mantri Yuva Rozgar Yojana (PMYY). This scheme is for entrepreneurs who are not properly skilled. Pradhan Mantri Yuva Yojana (PMYY), a new scheme launched by the Ministry of Skill Development and Entrepreneurship for the youth. Under this scheme, the central government will arrange for entrepreneurship education and training programs for youth for the next 5 years.

Pradhan Mantri Yuva Rozgar Yojana (PMYRY) Features
  1. Pradhan Mantri Yuva Yojana (PMYRY) was started by the Central Government on 9th November 2016 on the occasion of National Conference of Skill Development and Entrepreneurship.
  2. Pradhan Mantri Yuva Yojana (PMYRY) is for young entrepreneurs. Under this scheme, it will be a good opportunity for all the young entrepreneurs to develop their skills through skill development program and learning facility.
  3. Under this scheme, there are about 3050 schools, colleges and other educational institutions where applicants can get education for the next 5 years. Five years have been decided for the first phase of the project.
  4. Under this scheme, there are approximately 2200 institutions of higher learning, such as colleges, major institutions and universities, 500 ITIs, 300 schools and 50 skill development and entrepreneurship centers.
  5. The training process of concerned schools, colleges and institutes will be through which the trainees will be able to easily get study material at home.
  6. The cost of implementation of the project will be Rs. 499.94 crore.
  7. The scheme will offer training to more than 7 lakh students in 5 years about education and entrepreneurship.
  8. The training program will be done on a large scale by the institutions open online courses / Massive Open Online Courses (MOOCs).
Pradhan Mantri Yuva Rozgar Yojana – Objectives
  1. The main motive of the scheme is to encourage the younger generation and to prepare them well for global competition. During the “Start up India” scheme it was seen that many entrepreneurs did not have much knowledge about business. And there was no proper skill to achieve further excellence in the relevant field. To provide them proper guidance, MSDE has come with training plan.
  2. The scheme is for the youth who are literate, but they have no skill and knowledge for the Global Competition. Under the Pradhan Mantri Yuva Yojana (PMYY) training, they will be able to make rapid progress.
  3. There is also provision for award for prize under the scheme to encourage the younger generation. The basic purpose of the scheme is to improve the economy of the country.
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Pradhan Mantri Yuva Rozgar Yojana Beneficiries

Pradhan Mantri Yuva Rozgar Yojana (PMYY) is for all young entrepreneurs of the nation. Every young person in the country whose age is below 30 can benefit from this scheme. Apart from this, no other qualification has been set for this scheme.

Pradhan Mantri Yuva Rozgar Yojana Benefits

The biggest problem of the Indian economy is the imbalance between GDP and employment. Even today, many literate people are unemployed for many reasons. Whenever a new government comes to power, it promotes employment, but for some reason, they can not fulfill their promise. This time Modi Government is making efforts to provide employment to people by introducing “Start up India” so that people can start their self-employment without seeking employment.

Pradhan Mantri Yuva Yojana (PMYY) follows “Start up India”. While “Start up India” helps people start their own business, the Prime Minister’s Youth Planning (PMYY) helps in skill development to pursue that business.

The second biggest benefit of this scheme is that it will contribute more to the workflow and cash flow in the economy of the country’s youth economy. They will also learn about Skill Development Training.

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