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Pradhan Mantri YUVA Yojana

Pradhan Mantri YUVA Yojana

Pradhan Mantri YUVA Yojana

Pradhan Mantri YUVA Yojana also known as Yuva Udyamita Vikas Abhiyan was implemented by the Ministry of Skill Development and Entrepreneurship (MSDE)  in consultation with the Government of India in 2016. The Union Minister Rajiv Pratap Rudy launched the Yojana on the second foundation day of MSDE. The Yojana was framed exclusively to enhance the competencies of the Youth of our nation as unemployment appears to be a significant threat to today’s generation. Pradhan Mantri YUVA Yojana is a centrally sponsored initiative featuring on Entrepreneurship Education and training.

Objectives of Pradhan Mantri YUVA Yojana

  • The primary goal behind the implementation of this scheme is framing an authorizing ecosystem which supports Entrepreneurship development through Entrepreneurship education and training.
  • As in, the scheme aims to help the youth of the country to establish their own enterprises and foster themselves towards self-employment.
  • The scheme also ensures to provide acceptance within the entrepreneurial network and easy access to entrepreneurship support features for every individual.
  • Pradhan Mantri YUVA Yojana exists in action for over five years between 2016-2017 to 2020-2021.
  • The Government of India has allotted a budget of INR 499 Crore towards the PM Yuva Yojana.
  • Under the Pradhan Mantri YUVA Yojana, students from all walks of life are provided with vocational education and training for enterprise establishment.
  • One key feature about Pradhan Mantri YUVA Yojana is that it was formed with relevance to the StartUp India Initiative. And this plan is expected to enable young business people to start their own business by acquiring the required training and knowledge.

Benefits of Pradhan Mantri YUVA Yojana

  • Under Pradhan Mantri YUVA Yojana, the Government will provide vocational education and training to the emerging youth for setting up various enterprises for a span of 5 years.
  • It has been estimated that a rough count of 5 to 7 lakh students will be trained in the enterprises formed under Pradhan Mantri YUVA Yojana so that they gain practical experience before being actually employed.
  • Due to unemployment, the economy of our country has become unbalanced. And through the implementation of this scheme, it is believed that there would be an increase in the employment opportunity disclosed to the youth.

Salient Features of Pradhan Mantri YUVA Yojana

There are three key features which play a vital role in the successful sustenance of the scheme. They are enlisted as follows,

  • Entrepreneurship Market (Entrepreneurship Mart)

    Introduction and access to Entrepreneurship Mart are delivered through Massive Open Online Courses (MOOC’s) and will be facilitated by the faculty through in-class discussions and experiential learning like internships and mock business training.

  • Creating Mentors (Creating Consultants)

    This feature includes the creation of a national network of high quality-screened mentors by existing networks and by competent local entrepreneurs.

  • Social Entrepreneurship

    The vocational training centres offer elective courses on Social Entrepreneurship to make the younger generation literate on social interoperability and to leverage their businesses.

Beneficiaries under Pradhan Mantri YUVA Yojana

The beneficiaries permitted to avail the credentials of the scheme includes all the students who are either pursuing or have completed the following degrees,

  • Under Graduate / Post Graduate Courses
  • PhD Program
  • Degree in Diploma
  • School Students
  • Students from ITI’s
  • Students of unorganized sectors in rural and urban areas
  • Women and Active Entrepreneurs
  • Citizens looking forward towards entrepreneurship education through support programs.

Promoting Social Entrepreneurship through Educational Institutes

  • The scheme insists on developing entrepreneurial practice and delivering free of cost entrepreneurship based education to all the citizens. This is accomplished through a Learning Management System (LMS) which comprises of Massive Open Online Courses (MOOCs) and other online education programmes.
  • On completion of these courses, the scheme has also designed an assessment statement and a certification mechanism.
  • The Government has also equipped a total count of 3050 institutions to deliver world-class entrepreneurship education programs. And this accounts to 2200 Higher Learning Institutions like Universities, Colleges, Premier Institutions and AICTE Institutions including Polytechnics, 300 Senior and Higher Secondary Schools, 500 Industrial Training Institutes (ITIs) and 50 Entrepreneurship Development Centres (EDCs).

Diverse Departments in Pradhan Mantri YUVA Yojana

  • Educational Institutes providing training

    Institutes which can host Entrepreneurship courses either Online or Offline are eligible to apply for being a partnered institute under Pradhan Mantri YUVA Yojana. A nodal e-hub representative inspects the physical infrastructure of the college. Later, the list of institutions will be submitted to the Joint Working Group (JWB) at the state level for the further selection process. The institutions selected will be provided with a secure login ID and password to access the training platform.

NOTE: All the institutes listed under this scheme attains annual funds to manage the recurring expenditures. Also, the government colleges will be given a one time grant for the purchase of the recommended equipment.

  • Faculty Orientation

    The nodal e-hub selects faculties associated with the training offered under Pradhan Mantri YUVA Yojana based on the pre-defined criterion. The facilitator training program will consist of four sub-categories namely, Webinar, Orientation Program, Faculty Facilitator Module and Advanced Facility Program. After the training process, the facilitators will be assessed online and will be given a certificate of appreciation for the successful completion of the course.

  • Assessment and Certification

    Initially periodic online or written examinations will be conducted to monitor the progress of students undertaking the training. After evaluation, a certificate of participation will be provided to the students by the National Entrepreneurship and Small Business Development (NIESBUD).

Application Procedure

The application process for Pradhan Mantri YUVA Yojana can be availed online from the official website.

In the first step, the applicant is expected to fill the required details about their Organization such as the name of the organisation, the partnered institute name, organisation type, Address of the organisation and the official E-mail ID.

PM YUVA Yojana
PM YUVA Yojana

Followed by which the contact person’s details like, name, E-mail Id and Contact Number are required. And Finally, the applicant can specify the organisation’s infrastructure details and Submit the application.

PM YUVA Yojana
PM YUVA Yojana

To obtain further details about Pradhan Mantri YUVA Yojana, kindly visit the official website.