“Union Cabinet on 20th March 2015, approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs.1,500 crore."
This would be the flagship scheme for skill training of youth to be implemented by the new Ministry of Skill skills_2015 Development and Entrepreneurship through National Skill Development Corporation (NSDC). The scheme would cover around 24 lakh persons. Skill training would be done based on National Skill Qualification Framework (NSQF) and industry led standards. Under the scheme, a monetary reward is given to the trainees on assessment and certification by third party assessment bodies.
The union cabinet meet which was chaired by the Prime Minister Narendra Modi gave the approval for the Rs.1,500 crore outlay for PMKVY in a meeting held here.
According to the union cabinet, PMKVY will be the flagship scheme for skill training of youth to be implemented by the new ministry of skill development and entrepreneurship through the national skill development corporation (NSDC).
The statement added that the target for skilling would be aligned to demand from other flagship programmes launched in recent times such as ‘Make in India’, ‘Digital India’, ‘National Solar Mission’ and ‘Swachh Bharat Abhiyan’.
“The scheme will cover 24 lakh persons. Skill training would be done based on the national skill qualification framework (NSQF) and industry led standards,” the union cabinet said in a statement.
The statement elaborated that under the scheme, a monetary reward will be given to trainees on assessment and certification by third party assessment bodies. The average monetary reward would be around Rs.8,000 per trainee.
“Out of the total outlay of Rs.1,120 crore to be spent on skill training of 14 lakh youth, special emphasis has been given to recognition of prior learning for which an amount of Rs.220 crore has been provided,” the statement said.
The focus under the scheme would also be on the mentorship support and placement facilitation for which an outlay of another Rs.67 crore has been provided. An allocation of Rs.150 crores has been made for training of youth from the north-east region.
The statement said that the skill training would would be done on the basis of demand assessed on the basis of recent skill gap studies conducted by the NSDC for the period 2013-17.