PM-SETU Scheme Latest News
Recently, the Ministry of Skill Development and Entrepreneurship has invited industry leaders to participate in the PM-SETU scheme.
About PM-SETU Scheme
- Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) is a Centrally Sponsored Scheme launched to strengthen India’s vocational training ecosystem.
- It aims to modernise the ITI ecosystem by upgrading 1000 government ITIs across India into modern, industry-aligned training institutions
- Implementation: It is implemented as a hub-and-spoke model, with 200 hub ITIs linked to 800 spoke ITIs.
- Each hub will be equipped with advanced infrastructure, innovation and incubation centres, production units, training of trainer facilities, and placement services, while the spokes will extend access and outreach.
- Financial outlay: ₹60,000 crore, over a five- year period.
- Nodal Ministry: Ministry of Skill Development and Entrepreneurship
Components of PM-SETU Scheme
- Introduce new, demand-driven courses and revamp existing ones in collaboration with industry;
- Special Purpose Vehicles: Set up Special Purpose Vehicles (SPVs) with credible Anchor Industry Partners to manage clusters and ensure outcome-based training;
- Create pathways for long-term diplomas, short-term courses, and executive programs;
- Strengthen 5 National Skill Training Institutes in – Bhubaneswar (Odisha), Chennai (Tamil Nadu), Hyderabad (Telangana), Kanpur (Uttar Pradesh), Ludhiana (Punjab), as Centres of Excellence with global partnerships.
- The initiative is backed by global co-financing from the World Bank and Asian Development Bank.
Source: News On Air
PM-SETU Scheme FAQs
Q1: What is the budget allocation for PM-SETU Scheme?
Ans: ₹60,000 crore
Q2: What is the full form of PM-SETU Scheme?
Ans: Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs
