Unemployment is a big problem in the country. There are still many youth who have a degree but do not have a job. To enable such youth to get a job, the government is running three schemes. These schemes include Prime Minister Skill Development Scheme, PM Svanidhi Scheme and Pradhan Mantri Mudra Scheme.
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1- PM Svanidhi Scheme
The government is running PM Svanidhi Scheme to promote the work of street vendors and make them self-reliant. Under this scheme, the government gives collateral free loan of up to INR 50,000 to the street vendors. That is, there is no need to mortgage anything on taking a loan under this scheme, which ultimately leads to make the youth more capable.
In the year 2020, the Modi government started the PM Svanidhi Scheme. The beneficiary can take a loan three times. For the first time a loan of INR 10,000 is given. If the first loan is repaid on time, a loan of INR 20,000 will be given for the second time. If this loan is also repaid on time, then a loan of INR 50,000 will be given for the third time.
2- Pradhan Mantri Kaushal Vikas Yojana
This scheme was started in July 2015. In which youth are given training in many fields. So that they become employable. The training given to the youth in this scheme is free. After completion of the training, the youth is given a certificate. With which they can start their own business.
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3- Pradhan Mantri Mudra Yojana
The Modi government started this scheme in 2015. So that employment can be promoted. In this, youth are given a loan of ten lakh rupees without pledging anything. This loan is given to the youth to start their own business. The loan is available in three categories.
The first category includes Shishu loan, in which a loan of up to INR 50 thousand is available. The second category includes Kishor loan, in which a loan of up to 5 lakh is available. The third category includes Tarun loan, in which the government gives a loan of up to INR 10 lakh.