The General Budget presented by the Union Finance Minister Mr. P. Chidambaram for 2013-14 has several new initiatives and higher allocation for the youth of the country. The Budget Allotted 1000 crore rupees for the skill development of ten lakh youth through the National skills Development Corporation, an organization with the Ministry of Finance. It will improve their employability, productivity and opportunities for self-employment. After completing any training course , the youth will not be given only certificate but also a cash award of around ten thousand rupees. It also proposes to promote self-employment by extending technology, the government has set aside Rs. 2200 crore to set up additional Tool Rooms &Technology Centres with the help of the World Bank. Higher allocation has been made for Education. Rs. 65867 Crore has been allotted to this sector which is 17% over R.E (Revised Estimate) of the previous year budget.

Rashtriya Madhyamik Shiksha Abhiyan has been provided with more than 25% budget over the current year RE.

Rs. 5284 Crore has been allocated to provide scholarships to youth belonging to weaker sections of the society including SC/ST, Minorities and the girl child. The beneficiaries will get their scholarships through hassle free DBT in real time. To promote excellence in academics, the budget has earmarked 100 crore rupees each for four Institutions of excellence. They are Banaras Hindu University, Aligarh Muslim University, Tata Institute of Social Sciences, Guwahati and INTACH.

The academic session in the six AIIMS like institution began last year. Rs. 1650 Crore has been allotted to hospitals attached to these institutions which will become functional from this year.

To further promote sports in the country, the budget allocates 250 crore rupees to set up the National Institute of Sports Coaching at Patiala which will be spent over a period of three years.

RNM/MZA/IA
(Release ID :93338)

Youth skill development funding expands to improve employability and promote self-employment via targeted training and cash awards. The Budget advances targeted allocations to enhance youth employability and self-employment by funding the National Skills Development Corporation for large-scale vocational training with attendant cash awards, establishing Tool Rooms and Technology Centres to promote technology-led entrepreneurship, increasing education funding and secondary education scheme support, providing scholarships to disadvantaged students via Direct Benefit Transfer, and allocating resources for medical institution hospitals and national sports coaching infrastructure.