Why In The News?

• The Maharashtra government will spend Rs 5,500 crore on the Mukhyamantri Yuva Karya Prashikshan Yojana internship scheme for unemployed youth.

Mukhyamantri Yuva Karya Prashikshan Yojana:-

=> This scheme was announced in Budget 2024-25 in Maharashtra and aims to enhance the employability and skill set of the youth and prepare them for a competitive job market.

=> It includes a six-month internship duration and a stipend structure designed to support interns based on their educational qualifications.

=> Interns will receive monthly stipends through Direct Benefit Transfer (DBT).

Key features of the scheme:-

=> For the 12th pass, a stipend of ?6,000 is allotted, and for ITI/Diploma – ?8,000 and degree/post graduation – ?10,000 will be offered.

=> Both government establishments and private sector industries are eligible to participate, provided they meet specific criteria including registration with Employees Provident Fund (EPF), Employees’ State Insurance Corporation (ESIC), GST, and Udyog Aadhar, and have been operational for a minimum of three years.