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Finance Minister Nirmala Sitharam on Thursday in her interim Budget 2024 speech said that the Skill India Mission of the central government trained 1.4 crore youth, upskilled and reskilled 54 lakh youth and established 3,000 new ITIs. Additionally, she stated that a large number of new institutions of higher learning including seven IITs, 16 IIITs, seven IIMs, 15 AIIMS and 390 universities have been set up. However, the FM didn’t mention the period or duration in which the government achieved these numbers. “The Skill India Mission aims to measure its success by wage growth and employer satisfaction. However, these indicators do not necessarily reflect the quality of the jobs created, nor do they consider whether the skills being taught align with the job market’s needs. As someone who believes in the power of technology to create a skilled workforce, it is crucial to ensure that learners have access to the tools they need to succeed. By partnering with Skill India, we can work together to ensure that learners have access to the necessary technology and that the skills being taught align with the current job market requirements,” Chitranshu Mahant, co-founder and CEO of Primebook, told FE Education.
According to experts, the Skill India programme has helped in creating a skilled workforce. However, industry stakeholders opine that much work needs to be done to ensure that skills taught are relevant and that learners can access the necessary tools to succeed. “We need to recognise the significance of the Skill India Mission in enhancing the employability of the youth. The success of the Skill India Mission is measured through a comprehensive set of indicators that gauge the impact on the employability of trained youth. These indicators encompass various aspects to provide a holistic evaluation of the program’s effectiveness including placement rates, industry engagement, retention in jobs, skill upgradation, entrepreneurship development, income growth, feedback and surveys,” Siddharth Chaturvedi, executive VP, AISECT Group, chancellor, SGSU, said.
FM further stated that 1.4 crore youth have been trained and of this 54 lakh youth have been reskilled. Experts believe that maintaining quality is essential. “To maintain the quality of training under the Skill India Mission and other skill development programmes, several measures are needed. These include stringent curriculum standards aligned with industry requirements, accreditation of training institutions, regular audits and inspections, and feedback mechanisms from both trainers and trainees. Collaboration with industry partners ensures that training programs remain updated and relevant to the evolving needs of the job market,” Dhruv Galgotia, CEO of Galgotias University, suggested.
Furthermore, experts suggest that assessments and evaluations are integral components of skill training programmes to gauge the proficiency and competence of individuals. “Assessments and evaluations can take many forms, including written exams, practical assessments, and project work. For example, in a skill training programme for software development, learners may be given a coding challenge to test their programming skills. Additionally, assessments and evaluations can identify gaps in the training programme and make necessary adjustments. For instance, if a topic is proving challenging for learners, the training programme can be modified to provide additional support or resources,” Mahant added.
In her budget speech, FM also said PM Mudra Yojana has sanctioned Rs 43 crore loans aggregating to Rs 22.5 lakh crore for the entrepreneurial aspirations of our youth. Besides that, Fund of Funds, Startup India, and Start Up Credit, Guarantee schemes have been rolled out to assist youth. “PM Mudra Yojana plays a role in nurturing the entrepreneurial aspirations of the youth. One of the primary objectives of the scheme is to generate employment opportunities. Therefore, the number of jobs created by the ventures funded through this scheme is an essential metric for assessing its impact on fostering entrepreneurship and addressing unemployment challenges n” Galgotia said.
