Chief Minister Devendra Fadnavis has directed the concerned departments to extend all possible help towards the initiative and present an interim report in the next 3-months.
"The government intends to develop skills of youth and create jobs. Through the Pramod Mahajan Kaushalya Vikas Yojana, youth in different sectors are being trained to become entrepreneurs," a statement issued by the Chief Minister's Office said.
It further said that Ola has created employment for about 5 lakh youth in the nation and ferries around 4 crore passengers.
"The company, that has a presence in about 100 cities is further looking to expand its operations in other regions as well. As a part of its expansion, the company seeks to train 50 lakh youth across the nation in the next 5 years," it said.
"The company had put up a proposal before the state government and showed its intention of providing skill development training to generate employment," it added.
The statement further said that according to the agreement, Ola will train 10,000 youth in the next 2-years to become micro-entrepreneurs.
Youth will be physically, technologically trained and will be extensively taught about passenger transport sector.
The statement said that youth from districts like Palghar, Raigad, Aurangabad, Amravati would be given preference for skill training.
"The company has requested the government to ease the conditions required for youth to obtain permissions to start their businesses.
"We have also been requested to provide financial help to the trained youth to buy vehicles for their business. The final decision on these will be taken once the concerned departments submit their report," the statement added.