Framework to synergise MUDRA with skill ecosystem soon: Pradhan

A framework is being established to synergise the MUDRA Yojana with the skilling ecosystem under which one lakh youth would acquire target oriented self employment in the July-September quarter, Union Minister Dharmendra Pradhan said today.

Addressing a press conference here, the minister said the initiative aimed at increasing self-employment in the country is an outcome of collaboration between the Department of Financial Services in the Finance Ministry and the Ministry of Skill Development and Entrepreneurship.

Pradhan Mantri Mudra Yojana was launched by Prime Minister Narendra Modi on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.

Besides, Pradhan said a network of Pradhan Mantri Kaushal Kendras will be set up in 700 districts in the current financial year ending March.

"450 PMKKs are presently functional in the country. By July-end 50 PMKKs will be added, thereby taking the number to 500 and by the end of 2018-19, a network of PMKKs will be established in 700 districts across the country," the minister said.

The minister spoke about challenge of aggregation of short term courses and upskilling and reskilling of 48 crore Indians in the country's workforce. Out of 2.5 crore youth entering the job market every year, 1.2 crore opt for short-term courses at industrial training institutes (ITIs), he said.

Besides, Pradhan said that nearly one crore people have been trained on an average every year in the last four years by a framework comprising of the Centre, state governments, industry bodies and philanthropic organisations.

He claimed that the latest EPFO data is proof of how many jobs have been formalised in the country.

According to him, the Skill Ministry is working with two targets in mind, to link industrial training institutes (ITI) verticals in a timely manner and in a accordance with the new age trades. Secondly, aggregating the short-term skilling courses and training as per the requirements of the Ministry, besides reskilling and upskilling the country's present workforce towards formalisation of the economy.

He said the drawbacks in the functioning of the National Skill Development Corporation which have come to light in the past will be rectified.