Budget 2025 | Skilling India: a budgetary imperative for global leadership
Subscribe to enjoy similar stories. As India aims to emerge as the Skill Capital of the World, a vision fuelled by the potential of its youth and the aspirations of the National Education Policy (NEP) 2020; it’s a journey that must be driven by shared effort. With over 65% of our population under 35, the opportunity to unlock the potential of this demographic dividend is immense.
Yet, realising this potential requires a decisive push toward equipping our workforce with the skills needed to thrive in a rapidly evolving global economy. The Union Budget 2025 presents an opportunity to align financial priorities with this objective, enabling India to set new benchmarks in human capital development. India’s journey toward becoming a $5 trillion economy rests on the ability of its workforce to adapt to the demands of automation, artificial intelligence, and emerging industries.
However, the skills gap remains—only half of India’s graduates are said to have employable skills. This gap affects individual aspirations and limits the competitiveness of industries striving to excel in global markets. The Union Budget 2024-25 reinforced the government’s commitment to education and skilling as key drivers of economic progress.
Initiatives like Pradhan Mantri Kaushal Vikas Yojana (PMKVY) continued to focus on emerging skills in AI and green technologies, while Skill Acquisition and Knowledge Awareness for Livelihood Promotion (Sankalp) aimed to empower 500 million individuals by 2025. The newly launched Prime Minister’s Internship Scheme promised practical exposure for one crore youth, while employment-linked incentives and skill loans highlighted efforts to build an industry-ready workforce. As promising as these initiatives have
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