Nirmala Sitharaman Encourages Kerala’s Youth to Lead Industrial Revolution 4.0
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, spoke at St. Teresa’s College in Ernakulam, Kerala, highlighting the potential of Kerala’s youth in the Industrial Revolution 4.0. This revolution is driven by technologies like artificial intelligence and machine learning. She emphasized India’s potential to lead due to its talented youth and innovative solutions.
Sitharaman noted that the World Bank and IMF recognize India as the fastest-growing economy, attributing this to supportive government policies and the country’s development as a knowledge hub. She mentioned government schemes like PM MUDRA and PM SVANidhi, which support asset-less individuals by providing loans without security.
The PM Internship Scheme was also discussed, which bridges the employability gap for fresh graduates. Currently, 39 top companies offer 1,800 internships in Kerala, with diverse opportunities in sectors like manufacturing and banking.
She stressed the importance of financial literacy from a young age, advocating for financial education in schools.
Doubts Revealed
Nirmala Sitharaman -: Nirmala Sitharaman is an important leader in India. She is the Union Minister of Finance and Corporate Affairs, which means she helps manage the country’s money and businesses.
Kerala -: Kerala is a state in the southern part of India. It is known for its beautiful landscapes, backwaters, and rich culture.
Industrial Revolution 4.0 -: Industrial Revolution 4.0 is a new way of doing things using advanced technology like computers, robots, and the internet. It includes things like Artificial Intelligence (AI) and machine learning, which help machines learn and work smarter.
AI and machine learning -: AI, or Artificial Intelligence, is when machines can do tasks that usually need human intelligence, like understanding language or recognizing pictures. Machine learning is a part of AI where machines learn from data to improve their performance over time.
World Bank and IMF -: The World Bank and IMF are international organizations that help countries with money and economic advice. They support countries in growing their economies and reducing poverty.
PM MUDRA -: PM MUDRA is a government scheme in India that provides loans to small businesses and entrepreneurs who don’t have many assets. It helps them start or grow their businesses.
PM SVANidhi -: PM SVANidhi is a scheme by the Indian government to help street vendors. It provides them with loans to restart their businesses after challenges like the COVID-19 pandemic.
PM Internship Scheme -: The PM Internship Scheme is a program by the Indian government that offers internships to young people. It helps them gain work experience and learn new skills.
financial literacy -: Financial literacy means understanding how to manage money well. It includes knowing how to save, spend, and invest money wisely.