In a landmark move to empower the nation's youth and bolster its industrial capabilities, the Indian government has announced several key initiatives. Prime Minister Narendra Modi is scheduled to launch various youth-focused schemes totaling over ₹62,000 crore today, October 4, 2025. The centerpiece of this package is the PM-SETU (Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs) scheme, a centrally sponsored program with an investment of ₹60,000 crore. This initiative aims to upgrade 1,000 Government ITIs across the country using a hub-and-spoke model, featuring 200 hub ITIs linked to 800 spoke ITIs. These upgraded institutions will be equipped with advanced infrastructure, modern trades, digital learning systems, and incubation facilities, with global co-financing support from the World Bank and Asian Development Bank.
The youth initiatives also include a special focus on Bihar, where the revamped Mukhyamantri Nishchay Svyam Sahayata Bhatta Yojana will provide a monthly allowance of ₹1,000 for two years to nearly 5 lakh graduate youths, along with free skill training. Additionally, the redesigned Bihar Student Credit Card Scheme will offer interest-free education loans of up to ₹4 lakh. The Prime Minister will also inaugurate Jan Nayak Karpoori Thakur Skill University in Bihar and dedicate 1,200 Vocational Skill Labs established in Navodaya Vidyalayas and Eklavya Model Residential Schools across 34 States and Union Territories.
Complementing the skilling push, India's ambition to become a global electronics manufacturing hub has received a significant boost. The Electronics Components Manufacturing Scheme (ECMS) has attracted investment proposals worth ₹1.15 lakh crore, nearly double its initial target of ₹59,350 crore. This overwhelming response, including significant participation from MSMEs, is expected to generate 1,42,000 direct jobs and boost the estimated production of electronics components to ₹10.34 lakh crore over the next six years. The scheme, approved by the Union Cabinet in May 2025 with a financial outlay of ₹22,919 crore, aims to reduce import dependence and strengthen India's domestic supply chain for critical electronic components.
In a bid to enhance India's appeal as an investment destination, NITI Aayog has proposed an optional presumptive taxation scheme for foreign companies. This proposal, part of a working paper, aims to provide greater tax certainty and predictability for foreign investors by allowing them to pay tax based on a fixed percentage of their revenue, thereby reducing litigation and compliance costs. The initiative seeks to address existing ambiguities in rules governing Permanent Establishment (PE) and profit attribution, which have often led to protracted disputes.
Further, the Centre has announced 100 "Aspirational Agriculture Districts" under the Prime Minister Dhan-Dhaanya Krishi Yojana (PMDDKY), with Uttar Pradesh leading the list. This scheme, approved by the Union Cabinet in July 2025, aims to enhance agricultural productivity and rural livelihoods through the convergence of various existing schemes. On a state level, Andhra Pradesh Chief Minister N. Chandrababu Naidu is set to launch the 'Auto Drivers' Sevalo' scheme, providing financial assistance of ₹15,000 annually to eligible auto-rickshaw and cab drivers.