PMKVY is the flagship outcome-based skill training scheme of the new Ministry of Skill Development & Entrepreneurship (MSDE). This skill certification and reward scheme aims to enable and mobilize a large number of Indian youth to take up skill training and become employable and earn their livelihood.
Under the scheme, monetary reward would be provided to trainees who are successfully trained, assessed and certified in skill courses run by affiliated training providers. This will boost the productivity of the country's workforce by enabling them to acquire high quality skill training across a range of sectors. It will also bring about a paradigm shift from input-based to outcome-based skill training in the country. It also seeks to significantly scale up skill training activities in the country and enable skill training to happen at a fast pace without compromising quality. Institutional arrangements comprising of the National Skill Development Corporation (NSDC), Sector Skill Councils (SSCs), Assessing agencies and Training Partners are already in place for implementation of the scheme.
The objective of this Scheme is to encourage skill development for youth by providing monetary rewards for successful completion of approved training programs. Specifically, the Scheme aims to:
¤ Encourage standardization in the certification process and initiate a process of creating a registry of skills Enable and mobilize a large number of Indian youth to take up skill training and become employable and earn their livelihood.
¤ Increase productivity of the existing workforce and align the training and certification to the needs of the country.
¤ Provide Monetary Awards for Skill Certification to boost employability and productivity of youth by incentivizing them for undergoing skill training by authorized institutions at an average of Rs. 8,000 per candidate.
¤ RPL (Recognition of Prior Learning): Under PMKVY, trainees with prior experience or skills and competencies will be assessed and they will also be given monetary rewards at an average of Rs. 2250/- for undergoing assessments. This will be an important step towards recognizing the skills possessed by workers working in the informal sector and their inclusion. This will also facilitate the process of skill up gradation and re-skilling of the existing workforce.
¤ With 10 Lakh Fresh Training and 14 Lakh RPL, this scheme is going to benefit 24 lakh youth at an approximate total cost of Rs. 1,500 Crores.