<h1>New Skilling Scheme Launched: 20 Lakh Youth to Benefit, 1,000 ITIs Upgraded, Enhanced Skill Loans for Emerging Industries.</h1> A new centrally sponsored scheme for skilling has been announced as the fourth scheme under the Prime Minister's package. The initiative aims to skill 20 lakh youth over five years and upgrade 1,000 Industrial Training Institutes in collaboration with state governments and industry. The scheme will align course content with industry needs and introduce new courses for emerging requirements. Additionally, the Model Skill Loan Scheme will be revised to offer loans up to Rs. 7.5 lakh, benefiting 25,000 students annually, with a guarantee from a government-promoted fund.