India Increases Skill Development Budget for FY 2026-27
The Union Government's budget for skill development rises to Rs 9,540.50 crore, focusing on ITI modernization and new training initiatives. Key allocations include Rs 6,140.50 crore for the PM-SETU scheme aimed at upgrading 1,000 ITIs.
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The budget for skill development initiatives under the Ministry of Skill Development and Entrepreneurship has risen significantly to Rs 9,540.50 crore for FY 2026-27 from Rs 5,749.90 crore. The Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) receives a major allocation of Rs 6,140.50 crore, emphasizing the upgrade of 1,000 ITIs.
This includes the development of smart classrooms and industry-aligned courses. New courses in Semiconductor Technician and Green Hydrogen Production Technician have been introduced to meet emerging industry needs.
The establishment of 15,000 content creator labs in secondary schools is also proposed, indicating a strong focus on the AVGC sector. Implementation plans are underway, with a National Steering Committee formed to supervise the process.
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