Best 5 Government Schemes for Students in India 2024

resr 5paisa Research Team

Last Updated: 16th October 2024 - 04:12 pm

Listen icon

The government has introduced several schemes to help students access better education, skill development, and financial support. Prime Minister Narendra Modi who has been in office since 26 May 2014 is committed to making education accessible to financially disadvantaged students. Various scholarships and programs have been designed to provide opportunities for these students to improve their futures. Let’s take a closer look at some of these key schemes.

PM Scholarship Scheme (PMSS)

PM Scholarship Scheme or PMSS provides financial aid to selected students for a period ranging from 1 to 5 years depending on the course. The scholarship amount is ₹2,500 per month for boys and ₹3,000 per month for girls. The money is directly transferred into the student’s bank account through ECS or Electronic Clearing System. The aim of the scheme is to reduce the financial burden on families and encourage students to pursue higher education.

Scholarships under PMSS are awarded to students enrolled in various technical institutions approved by the AICTE/UGC. This includes fields like medical, dental, veterinary, engineering, MBA and MCA courses. Each year a total of 5,500 scholarships are granted divided equally between boys and girls (2,750 each). However to be eligible students must meet certain qualifications. They must have completed their 10+2, diploma or graduation with a minimum of 60% marks. Applicant must be the dependent child or widow of an ex-Coast Guard personnel or serviceman. This scholarship is available only for students enrolled in their first year of studies, except for lateral entry and integrated courses.

PM Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana or PMKVY is a flagship program under Ministry of Skill Development and Entrepreneurship. It aims to develop the skills of Indian youth to enhance their employability. National Skill Development Corporation organizes the scheme and it is popularly known as Pradhan Mantri Youth Training Program.

PMKVY offers three types of training:

1. Short-Term Training: For those looking to gain new skills or enhance existing ones.

2. Recognition of Prior Learning: For individuals with prior skills who want to get certified.

3. Special Projects: Tailored training programs for marginalized and vulnerable groups.

People aged between 15 and 45 years can apply for short term training. The program is open to those without formal education, school or college dropouts and unemployed Indian nationals. Special projects under PMKVY are designed for individuals within the same age group who belong to marginalized or vulnerable sections of society. Those aged between 18 and 59 years who already have work experience or skills can apply for Recognition of Prior Learning to get their abilities certified.

PM CARES for Children

PM CARES for Children scheme was launched to help children who lost both parents, legal guardians or adoptive parents due to the COVID-19 pandemic. This scheme was introduced by Prime Minister Narendra Modi on May 29, 2021. The goal is to provide comprehensive care and support for children until they reach the age of 23.

The scheme offers several benefits including financial assistance of up to ₹10 lakh for each child. It also provides boarding and lodging facilities for children ensuring their overall well-being. PM CARES for Children assists in education by providing scholarships for school-aged children (Class 1-12) with each child receiving ₹20,000 per year. The scheme also provides health insurance coverage of ₹5 lakhs per child. For higher education the scheme offers loan benefits to support the child’s academic pursuits.

Atal Innovation Mission (AIM)

Atal Innovation Mission is an initiative by the Government of India aimed at fostering a culture of innovation and entrepreneurship. The mission seeks to create programs and policies that promote innovation in various sectors and encourage collaboration among innovators and entrepreneurs. AIM provides platforms for launching innovative start ups and ventures, especially in technology-related fields.

AIM runs several programs including:

1. Atal Tinkering Labs: Labs set up in schools to encourage innovation and creativity among students.

2. Atal Incubation Centres: Centres that provide support to budding entrepreneurs and start-ups.

3. Atal New India Challenges: Challenges that focus on finding solutions to pressing societal issues.

4. Atal Grand Challenges: National-level competitions aimed at driving large-scale innovations.

Through these programs, AIM aims to empower India’s youth and foster a spirit of creativity and entrepreneurship.

PM eVidya

PM eVidya is a program designed to provide quality digital education to students. It offers access to a large collection of eBooks and educational resources through DIKSHA portal and mobile app. PM eVidya aims to revolutionize the way students learn by offering easy access to digital and online teaching resources.

Under this program the government has also launched TV channels for each class from 1 to 12. Known as the One Class One Channel initiative these channels provide educational content tailored to each grade level. The content is developed by organizations such as NCERT, CBSE, KVS, NIOS and others and is available in Hindi, English, and various regional languages. This makes PM eVidya a valuable resource for students across India regardless of their location or language preferences.

Conclusion

These government schemes are designed to provide comprehensive support for students at various stages of their education and skill development. From scholarships that ease financial burdens to skill building programs that enhance employability the government aims to create opportunities for students from all walks of life. By utilizing these schemes students can access quality education, develop valuable skills and secure a brighter future for themselves and their families.
 

How do you rate this article?
Characters remaining (1500)

FREE Trading & Demat Account
+91
''
By proceeding, you agree to our T&Cs*
Mobile No. belongs to
hero_form

Indian Stock Market Related Articles

Stock in Action - HDFC AMC

by 5paisa Research Team 16th Oct 2024

Gold Price Forecast for Next Week

by Sachin Gupta 11th Oct 2024

Muhurat Trading 2024

by 5paisa Research Team 16th Oct 2024

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.

Want to Use 5paisa
Trading App?