World youth skill day is celebrated to create awareness about the real importance of marketable skills. It aims at bringing people together to discuss on importance of technical and vocational education and the role of training and the development in polishing these skills which can ultimately result in making oneself employable in both local and global economies. The ultimate goal of this day is to reduce unemployment and underemployment.
In India, this day got recognition in 2015 when the Union Ministry of Skill Development and Entrepreneurship (MSDE) launched the SKILL INDIA Campaign. Pradhan Mantri Kaushal Vikash Yojana (PMKVY) was the flagship scheme which was started as real outcome of this initiative . National Skill Development Mission and National Policy for Skill Development and Entrepreneurship 2015 were given green flag by our honourable prime minister Shri Narendra Modi Ji to give boost to awareness about importance of skills in ones life. A Model Skill Loan Scheme was also launched where loans from 5000 rupees to 1.5 lakh rupees will be available to more than 34 lakh youth of India who seek to attend skill development programmes in the next five years.