Prime Minister Narendra Modi addressed the people of Bihar on Saturday through a virtual event to announce various youth-focused programs worth over ₹62,000 crore. These initiatives aim to expand Industrial Training Institutes (ITIs), offer free skill training, provide interest-free education loans, and promote vocational education.
PM Modi Launch Launches ₹62,000 Crore Youth Skilling Initiatives
The main initiative, the PM-SETU (Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs) scheme, is a government-sponsored program with an investment of ₹60,000 crore, according to the Prime Minister’s office.
It aims to upgrade 1,000 government ITIs using a hub-and-spoke model that includes 200 hub ITIs and 800 spoke ITIs.
Another supportive schemes launched by PM
PM Modi also launched the updated ‘Mukhyamantri Nishchay Svyam Sahayata Bhatta Yojana.’ Under this program, nearly five lakh graduates are expected to receive a monthly allowance of ₹1,000 for two years, along with free skill training.
Additionally, the Prime Minister introduced the redesigned Bihar Student Credit Card Scheme. This program offers interest-free education loans of up to ₹4 lakh, easing the financial burden of higher education for deserving students. The PMO noted that over 3.92 lakh students have already received loans totaling more than ₹7,880 crore under this scheme.
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