PMKVY 3.0: Govt. launches Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 3.0

PMKVY 3.0: Govt. launches Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 3.0

The third phase of Pradhan Mantri Kaushal Vikas Yojana (PMKVY 3.0) launched in 600 districts across all states of India. Spearheaded by the Ministry of Skill Development and Entrepreneurship (MSDE), this phase will focus on new-age and COVID-related skills.

What is Pradhan Mantri Kaushal Vikas Yojana?

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a skill development initiative scheme of the Government of India for recognition and standardisation of skills. It is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) launched in 2015 and implemented by National Skill Development Corporation (NSDC).

Objective of Pradhan Mantri Kaushal Vikas Yojana

The main objective of the Pradhan Mantri Kaushal Vikas Yojana to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. Under the scheme, Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL). Training and Assessment fees are completely paid by the Government.

Pradhan Mantri Kaushal Vikas Yojana 2.0

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) was launched in 2015 to encourage and promote skill development in the country by providing free short duration skill training and incentivizing this by providing monetary rewards to youth for skill certification. The overall idea is to boost both industry and employability of youths. During its pilot phase in 2015-16, 19.85 lakh candidates were trained.

The Objectives of Pradhan Mantri Kaushal Vikas Yojana 2.0 are

1. Enable and mobilize a large number ofyouths to take up industry designed quality skill training, become employable and earn their livelihood.
2. Increase productivity of the existing workforce,and align skill training with the actual needs of the country.
3. Encourage standardisation of the Certification process and put in place the foundation for creating a registry of skills.
4. Benefit 10 million youth over the period of four years (2016- 2020).

The scheme is being implemented through two components

Centrally Sponsored Centrally Managed (CSCM): This component is implemented by National Skill Development Corporation. 75% of the PMKVY 2016-20 funds and corresponding physical targets have been allocated under CSCM.

Centrally Sponsored State Managed (CSSM): This component is implemented by State Governments through State Skill Development Missions (SSDMs). 25% of the PMKVY 2016-20 funds and corresponding physical targets have been allocated under CSSM.

What are the Key Features of PMKVY 3.0

1. Skill India Mission PMKVY 3.0 envisages training of eight lakh candidates over a scheme period of 2020-2021 with an outlay of Rs. 948.90 crore.
2. This phase is designed towards making skill development more demand-driven and decentralised in its approach with a focus on digital technology, Industry 4.0 skills and COVID-related skills.
3. District Skill Committees (DSCs) under the guidance of State Skill Development Missions (SSDM) shall play a key role in addressing the skill gap and assessing demand at the district level.
4. It will encourage healthy competition between states. This is achieved by increasing the allocation to those states that perform better.
5. It will also be a propagator of vocational education at an early level for youth to capitalize on industry-linked opportunities.