The Ministry of Skill Development and Entrepreneurship (MSDE) recently announced launch of Pradhan Mantri Yuva Yojana to scale up an ecosystem of entrepreneurship for young people. The scheme was launched as part of events to mark 2nd Foundation Day of Ministry of Skill Development and Entrepreneurship (MSDE).
Highlights of Pradhan Mantri Yuva Yojana (PMYY):
- PMYY is MSDE’s flagship scheme on entrepreneurship education and training. The scheme will run for five years (2016-17 to 2020-21) with a project cost of 499.94 crore rupees.
- The scheme will provide entrepreneurship education and training to over 7 lakh students in 5 years through 3,050 institutes. The institutes under the PM’s Yuva Yojana include 2,200 institutes of higher learning (colleges, universities, and premier institutes), 300 schools, 500 ITIs and 50 entrepreneurship development centres through Massive Open Online Courses (MOOCs).
- It will also include easy access to information and mentor network, credit, incubator and accelerator and advocacy to create a pathway for the youth.