Pune: Skill development initiatives in the Union Budget 2024-25 have been appreciated by the industry, but equally concerns have been expressed by experts.
Skilling targets are ambitious, but industry fears of not being able to provide placements to all trained candidates. Experts say skilling needs to be delinked from jobs.
Manikanth Challa, Founder & CEO, Workruit said, "Upgrading 1,000 industry training institutes in a Hub and Spoke arrangement will bridge the skill gap and prepare youth for future jobs.
The emphasis on women-led development and AI-driven upskilling for women highlights a commitment to gender equality and inclusive growth. We are excited about these progressive measures and look forward to leveraging them to revolutionize India's recruitment landscape through AI and digital tools.”
Ajay Khanna, Chairman, PHDCCI Committee on Skill Development said, "Skilling landscape has undergone a major transformation in the country in the past ten years. Ambitious targets of skilling have been set by the governments since then, at both Centre and state level. The actual results on ground remain far from the targets.
A big reason for this is the Government’s insistence on jobs at the end of skilling. Training providers baulk away from committing big numbers for fear of not being able to provide placements to all trained candidates. The way forward is delinking of skilling with jobs and more focus on entrepreneurship and self-employment."
Srinivasa Addepalli,Founder and CEO, GlobalGyan Leadership Academy says, "The plan to provide corporate internships to one crore youth to bridge the gap between academia and industry is expected to enhance practical experience and employability significantly.
Additionally, the budget's focus on skilling 20 lakh youth over the next five years through centrally sponsored schemes and upgrading 1,000 training institutes represents a major advancement.
These measures are set to empower India's youth with the necessary skills needed to thrive in the global economy, fostering both immediate and long-term economic benefits."
