New Delhi: The Centre Thursday approved a Rs
1,000 crore special package for imparting training to 8,000 youth annually in Jammu and Kashmir with the help of the corporate sector.
As many 40,000 graduates, post-graduates and professional
degree holders from all districts of the state will be covered
in the next five years.
"The estimated expenditure on the special industry
initiative (SII) scheme is Rs 2.5 lakh per trainee," an
official statement said after a meeting of the Cabinet
Committee on Economic Affairs (CCEA), which cleared the
proposal.
The cost of travel, boarding and lodging and stipends
under the scheme will be borne by the central government.
To be funded entirely by the Centre, it will be
implemented in partnership with the National Skill Development
Corporation (NSDC) and other institutions identified for the
purpose.
The statement said the corporate sector would also be
involved in the initiative, which will involve an expenditure
of Rs 500 crore over the next five years, beginning from the
current fiscal. The corporate sector would be incentivised to
absorb the youth trained under the project.
"The training cost will be initially borne by the
corporates. As an incentive to the corporate, 50 per cent of
the training cost would be reimbursed if the trained youth are
given employment in the company," the statement added.
Under the scheme, identified companies would screen and
select students from the state and after assessing the skill
gap and the need of the corporate, the youth would be suitably
trained.
PTI
