Telangana Chief Minister A Revanth Reddy inaugurated Banking, Financial Service, and Insurance (BFSI) skill training program in Hyderabad on Wednesday to address the state's unemployment crisis. The program, integrated into the undergraduate curriculum of 38 colleges, aims to equip students with the skills needed to meet industry demands.
At the launch, CM Revanth Reddy highlighted the state's rising unemployment over the past decade, stating, "Telangana witnessed the abnormal increase of unemployment in the last 10 years. The unemployed youth are deprived of jobs and employment opportunities. The People's Government took serious note of the growing unemployment problem in the state. It is the reason, the people's government gave appointment orders to 30,000 recruited person within 3 months of coming to power. Already issued notification to fill 35,000 vacancies in various government departments. Government decided to fill another 35,000 vacancies in the next two or three months."
However, the Chief Minister acknowledged that even filling 200,000 jobs won't fully solve the unemployment problem. "Despite the efforts to create jobs, the root issue is a lack of skills among graduates. Every year, 300,000 students complete their graduation in the state, but many struggle to find employment due to their lack of industry-relevant skills," he said.
To tackle this gap, the Telangana government held consultations with the BFSI sector to understand workforce needs and developed an action plan accordingly. The BFSI skill training program will allow students to complete the course before graduation, making them job-ready for the Banking, Financial Services, and Insurance sectors. "We are grateful for the funds provided for this initiative, which will ensure students find employment immediately after training," he added.
CM Revanth Reddy also addressed the growing issue of drug abuse, noting that the lack of job opportunities had led some youth to substance addiction, including engineering graduates. "Our mission is to provide the world with skilled youth. Creating employment is crucial to saving young people from the dangers of drug abuse," he emphasised, urging collective responsibility to eradicate the drug menace in the state.