Will Tackle Unemployment Problem With Skill Development: Revanth

Hyderabad: In a significant move that is aimed at combating the problem of unemployment and equip the state youth with industry-relevant skills, Chief Minister A. Revanth Reddy launched the BFSI (Banking, Financial Services, and Insurance) Skill Training Programme at JNAFAU in Masab Tank on Wednesday along with Minister for IT and Industries D. Sridhar Babu.

The programme will provide skill development training to thousands of engineering and non-engineering students and boost their placement prospects in the BFSI sector.

Addressing the gathering, the Chief Minister expressed concern at the alarming rise in unemployment figures over the last decade. "Telangana has witnessed an abnormal rise in unemployment in the past 10 years. Many unemployed youth have been deprived of job opportunities," he stated.

Recognising the seriousness of this issue that had worsened during the BRS rule, the Congress government acted swiftly and issued appointment orders to 30,000 recruits within three months of assuming office.

Reddy outlined the state government's commitment to addressing the unemployment crisis while pointing out that notifications have already been issued to fill 35,000 vacancies across various government departments, with plans to fill an additional 35,000 positions within the next three months.

However, he acknowledged that even after creating two lakh jobs in the government sector, the problem of unemployment would persist till the time the state government takes bold steps like upskilling its workforce.

"Around three lakh students graduate in Telangana every year, yet many are unable to secure jobs as they lack the skills that cater to the current industry requirements," he remarked.

To bridge this gap, the state government has partnered with the BFSI sector to create a comprehensive action plan in order to churn out a skilled workforce, he said.

The BFSI skill training programme will equip students with the necessary skills before they graduate, along with assured job placements in the banking, financial services, and insurance sectors.

"The government's mission is to deliver skilled youth to the world," Revanth Reddy said.

Meanwhile, he expressed concern over the rise in drug abuse among the state’s youth, attributing it to the lack of employment opportunities over the past decade.

"It is alarming that some engineering graduates were among those recently caught with drugs. The fight against drug abuse is a collective responsibility and creating jobs is crucial in weaning away youth from this menace," he said.

In addition to skill development in the BFSI sector, the government is upgrading the state’s educational infrastructure. Towards this, he announced that 65 ITIs (Industrial Training Institutes) be upgraded to ATCs (Advanced Technology Centres) in collaboration with Tata Technologies, with plans to convert all ITIs into ATCs within the next two years. He cautioned engineering colleges of losing their accreditation if they failed to meet minimum standards. He also announced that all polytechnic colleges would undergo modernisation.

The Chief Minister said the newly-established Young India Skill University will focus on providing skills training to youth across various sectors.

"Our vision is to not only transform Hyderabad into an education hub but also make it a global destination for technical skills and expertise," he said, adding that Hyderabad will be positioned as a cosmopolitan city on the global map. He called on all stakeholders to cooperate in achieving this ambitious vision.

Revanth Reddy also revealed plans for establishing a sports university and a sports academy next year, which, he intends, would emerge as national role models in both education and sports. He acknowledged the achievements of alumni from Hyderabad Public School, many of whom have gone on to become CEOs of multinational companies.

"We will seek cooperation of these global leaders to propel the state onto the path of development," he said.