The new policy is expected to be taken up at a Cabinet meeting scheduled for Thursday, sources said.
Earlier today, Youth Affairs and Sports Minister Jitendra Singh, speaking at the Youth Session of the 12 Pravasi Bharatiya Divas here, said that the new policy seeks to attain its stated aims by providing the right education and skills and promoting entrepreneurship.
"The government is in the process of introducing a new National Youth Policy with the vision of empowering the youth of the country to achieve their full potential," Singh said.
The policy aims at effectively engaging with the youth and facilitating their participation in governance and envisages inclusive programmes to take care of disadvantaged sections of youth and youth with special needs.
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Talking about the two youth volunteer networks created by his ministry - Nehru Yuva Kendra Sangathan (NYKS) and National Service Scheme (NSS), he said that these can play a vital role in this regard.
NYKS currently has about 8 million non-student youth volunteers enrolled through approximately 2.80 lakh youth clubs across rural India. Similarly, NSS has about 3.25 million student volunteers in senior secondary schools and colleges across the country.
"The policy also seeks to promote social entrepreneurship as an attractive employment proposition and to create an enabling policy regime for setting up of venture funds and provide angel investment which social entrepreneurs would require. This would facilitate setting up of social ventures in India by Overseas Indians," he said.
Singh added that his ministry would work to create an institutional framework under which overseas Indians will get an opportunity to work with NYKS, NSS and other such organisations.