1,000 cr in Budget for skill development of 10 lakh youth
New Delhi: The Union Budget for 2013-14 has earmarked Rs 1,000 crore for the skill development of 10 lakh youth through the National skills Development Corporation.
"It will improve their employability, productivity and opportunities for self-employment," the finance ministry said in a statement, highlighting the slew of measures to create employment and skill development for youth in the country.
To promote self-employment by extending technology, the government has set aside Rs 2,200 crore for setting up additional tool rooms and technology centres with the help of World Bank.
The statement said Rs 65,867 crore has been allotted to education sector, which is 17 per cent over Revised Estimate of 2011-12.
It said Rs 5,284 crore has been allocated to provide scholarships to youth belonging to weaker sections of the society including SC/ST, minorities and the girl child. The beneficiaries will get their scholarships through hassle free Direct Benefits Transfer in real time.
To promote excellence in academics, the budget has earmarked Rs 100 crore each for four institutions -- Banaras Hindu University, Aligarh Muslim University, Tata Institute of Social Sciences, Guwahati and INTACH.
To promote sports, the budget has allocated Rs 250 crore to be spent over three years to set up the National Institute of Sports Coaching at Patiala.