Special industrial scheme for Jammu & Kashmir approved

The cabinet committee on economic affairs today approved the implementation of the 'special industry initiative scheme in Jammu & Kashmir', covering all districts of the state.

The scheme aims at training 8,000 students fro Kashmir annually, and has targeted training 40,000 graduates, post graduates and professional degree holders over a period of five years.

This special scheme will be sponsored and funded exclusively by the central government and executed in partnership with the National Skill Development Corporation and the corporate sector.

The companies identified to particiapate in the scheme will screen and select students from the state for employment in private sector.

The onus of training these students will lie with individual companies, who will receive incentivises to employ them.

The scheme is expected to cost approximately Rs1,000 crore. The central government will make a provision of Rs 500 crore in the next five years from 2011-12 onwards to cover the cost of travel, accomodationand and stipend will be borne by the central government.

Approximately Rs2.50 lakh would be required to train them withh requiste skill sets to make them  per trainee, which will initially be borne by the particiapating companies, 50 per dent of which would be reimbursed if the trained youth finally employed by the company.