Youth of a country are its building blocks for future and PM Narendra Modi recognizes this therefore has launched Pradhan Mantri Yuva Yojana (PMYY) on 9th November, 2016. This scheme is specially designed for the skill development and other aspect development of entrepreneurs and it spans for 5 years.

Features of PMYY

A few of the main features of this scheme are

• Learning facility and skill development programs will be provided to young entrepreneurs for improvement.
• For the next five years the applicants get the chance to study the needed material in more than 3000 educational institutes like schools, colleges etc.
• Under this scheme about 50 skill development and entrepreneur centres, 2200 higher education institutions like universities etc., 300 schools and 50 ITIs will come.
• This scheme will give the applicants easy access to information, mentor network and other unique educational facilities that will help young business owners and entrepreneur in their future.
• About 50 skill development institutes come under this scheme and access to the labs present in this institution will also be provided to applicants in order to improve their skills.
• The applicants who have done exceptional work under the scheme will be awarded by Ministry of Skill Development and Entrepreneurship (MSDE) in a ceremony to be held on 16th January, 2017.

Aim of PMYY

The main of this scheme is to develop the skills of young entrepreneurs in order to make them ready for global competition. This scheme focuses on the young generation of India as they are the future of India and their development will aid in the country’s economic development. PMYY essentially aims to provide the necessary education and training to the young entrepreneurs and business owners of India to develop their business and establish a name for themselves. All forms of advancements and new technology are to be used in this scheme in order to bring the young entrepreneurs head to head with the global competition.

Who can apply for this scheme?

For applying for the PMYY scheme the applicant must be younger than 30 years and anyone from any part of India can apply for it.

Funding

The state and central government are to fund this scheme and the allotted amount for this scheme is Rs. 499.94 Cr.

Advantage of the scheme

This scheme will help in the development of the Indian economy as the skills of young entrepreneurs will be developed, which will help them advance in the future.