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5 Government Schemes for Students in India

In India, the government continually introduces various schemes aimed at benefiting students across the country. These schemes focus on promoting education and empowering young minds across various areas. From accessibility to quality education to reducing dropout rates and skill development to financial assistance, government schemes aim for all these elements. 

There are various government schemes targeting different levels of education, ranging from primary to higher education and vocational courses. The government schemes typically focus on economically weaker sections, rural, and marginalised communities. Some also benefit all students irrespective of these differences. 

Students gain access to free learning programs, scholarships, and subsidies for professional and technical education, among other benefits. The purpose is to build a population that's equally skilled and knowledgeable. In this guide, we will discuss the top 5 government schemes benefiting students in India. 

PM Scholarship Scheme (PMSS)

Prime Minister's Scholarship Scheme (PMSS) is an award scheme of financial support to promote higher technical and professional education among the wards and widows of ex-servicemen and ex-coast guard personnel. The scheme, inaugurated under the umbrella of the National Defence Fund, offers scholarships to selected candidates for pursuing professional courses like engineering, medical, dental, veterinary, and management courses. 

As of 2023, such boys and girls are awarded ₹2,500 and ₹3,000 monthly, respectively, for a maximum of five years based on the duration of the course. It is a merit-based selection made through online applications operated by the Kendriya Sainik Board. 

The Ministry of Education reiterates that the Central Sector Scheme of Scholarship, which is normally referred to as the PM-USP (Uchchatar Shiksha Protsahan) scholarship, carries an annual goal of 82,000 scholarships (41,000 boys and 41,000 girls). Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a flagship skill development initiative launched by the Ministry of Skill Development and Entrepreneurship.

PM Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship skill development program initiated by the Ministry of Skill Development and Entrepreneurship. It focuses on providing training related to industry skills to young people, thereby enhancing their marketability. 

With PMKVY 4.0 identified in the Union Budget 2023-24, the government has expanded the training scope to encompass sectors such as 3D printing, robotics, AI, and drone technology. The target of PMKVY 4.0 is to train 1.5 crore candidates in the upcoming 4 years (FY 2022‑23 to FY 2025‑26) implementation period.

PMKVY Conducts 3 Skill Training:

These three skill trainings are:

  • Short-Term Training (STT)

Intended for school or college dropouts or unemployed youth, STT courses encompass both technical and soft skills, as outlined in the National Skills Qualification Framework (NSQF). The training is free, and students are also provided with placement assistance upon completing the course.

  • Recognition of Prior Learning (RPL)

RPL has been introduced to recognise the skills of individuals with prior learning, particularly those with experience in the informal sector. RPL certification is designed to empower individuals to enhance their employment prospects.

  • Special Projects

This feature enables adaptive skill development programs for specific groups, such as transgender individuals, prisoners, or those in challenging geographical areas. Training modules are specifically designed to enable the alignment of these groups with mainstream employment sectors.

Source: MSDE Website

PM CARES for Children

In May 2021, the Government of India initiated the PM CARES for Children Scheme to support children who lost both parents or legal guardians because of the COVID-19 pandemic in an all-encompassing manner. The scheme guarantees the overall rehabilitation of affected children by providing financial assistance, education, and emotional counselling. 

Beneficiaries under this scheme will get a monthly stipend starting at the age of 18 years and a lump sum amount of ₹ 10 lakh upon attaining the age of 23 years, to be contributed by the PM CARES Fund. Additionally, the government offers free school education, 5 lakh health insurance under Ayushman Bharat, and admission to Kendriya Vidyalaya or private schools. 

The PM CARES for Children scheme includes, among others, financial assistance, a corpus of ₹10 lakh, monthly stipends, health insurance, and educational provisions; however, it fails to specify the number of beneficiaries enrolled as of early 2023.

Source: Livemint

Atal Innovation Mission (AIM)

The Atal Innovation Mission (AIM) is a central government initiative implemented under the NITI Aayog to foster innovation and entrepreneurship in young minds. It fosters a culture of problem-solving and critical thinking through various initiatives, such as Atal Tinkering Labs and Atal Incubation Centres. AIM focuses on both students and startups, creating an effective innovation ecosystem in India.

AIM Conducts Multiple Initiatives:

  • Atal Tinkering Labs (ATL)

More than 10,000 ATLs have been set up in schools across India to foster curiosity and practical learning by providing tools and kits in robotics, electronics, and 3D printing.

  • Atal Incubation Centres (AICs)

They offer infrastructure, mentoring, and funding services to startups and early-stage companies.

  • Mentor India Program

JAM will establish a robust national network of mentors to advise innovators throughout the program.

  • Atal Community Innovation Centres (ACICs)

Encourage innovation in underserved and remote areas to ensure equal access to growth opportunities.

Source: Govt. Website

PM eVidya

The PM eVidya program is a technology-enabled digital education initiative launched in May 2020 by the Ministry of Education to ensure continuity of learning during and after the COVID-19 pandemic. It consolidates all the digital and broadcast learning materials into a single platform. 

One of the major components of PM eVidya is ‘One Nation, One Digital Platform’, specifically DIKSHA, which offers learning content in over 33 languages. Additionally, the program features 12 committed DTH TV channels covering classes I to XII under the SWAYAM Prabha initiative, as well as access to radio, podcasts, and community radio. Moreover,  DIKSHA, which is a major pillar of PM eVidya, will help to benefit “nearly 25 crore school-going children in the country”. 

Source: Hindustan Times

Conclusion

The changing social and educational dynamics of India are characterised by specialised programs such as PMSS, PMKVY, PM CARES for Children, AIM, and PM eVidya. These schemes demonstrate the central government's multi-modal approach to fostering education, skill training, innovation, and social security. By empowering youth through scholarships, skills training, and educational platforms that utilise technology, the government is not only addressing the problem in the short term but also investing in the country's long-term development. 

The 2023-24 Union Budget allocated more than ₹112,000 crores to the sectors of education and related activities, a sign of prioritisation of human capital development. The schemes, collectively, constitute a comprehensive framework that promotes inclusive growth, future preparedness, and sustainable socio-economic development.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Bajaj Broking Financial Services Ltd. (BFSL) makes no recommendations to buy or sell securities.

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