Come October 1, the government will share with employers 25 per cent of prescribed stipend paid to apprentices subject to a cap of Rs 1,500 per month under the National Apprenticeship Promotion Scheme.
The programme aims to provide apprenticeship training to 50 lakh youth by 2020.
"Under the scheme, the government of India will share 25 per cent of prescribed stipend subject to a maximum of Rs 1,500 per month per apprentice with employers," said a notification from the Ministry of Skill Development and Entrepreneurship.
"The government of India will also share a maximum Rs 7,500 per fresher apprentice (without any formal trade training) as cost of basic training with basic training providers."
The scheme will start from October 1, 2016. Even if employers have engaged apprentices before the said date, they can avail the benefits from October 1 only.
Apprenticeship training is considered to be one of the most efficient ways to develop skilled manpower. It provides for an industry led, practice oriented, effective and efficient mode of formal training.
The National Policy of Skill Development and Entrepreneurship, 2015 launched by the Prime Minister focuses on apprenticeship as one of the key components for creating skilled manpower in India.
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