₹60,000 Crore ITI Upgradation Scheme Approved by Cabinet
Why in the news
The Cabinet cleared the ITI upgradation scheme announced in Union Budget 2024-25.
Key facts
- Runs for five years, using a hub-and-spoke model with industry.
- Half of the Centre’s share is co-financed by ADB and the World Bank.
- A need-based model lets funds suit each institute, since earlier support fell short.
- Centres of Excellence at NSTIs in Bhubaneswar, Chennai, Hyderabad, Kanpur, Ludhiana to train trainers.
| Source | Share |
|---|---|
| Centre | ₹30,000 crore |
| States | ₹20,000 crore |
| Industry | ₹10,000 crore |
Exam angle
- Announced: Budget 2024-25.
- Co-financiers: ADB, World Bank.