Rs. 1,500 crore to be spent in Pradhan Mantri Kaushal Vikas Yojna

News:

The National Skill Development Corporation has begun implementing Rs 1,500-crore Pradhan Mantri Kaushal Vikas Yojna (PMKVY) to provide skills training to 24 lakh people, including youth. This is 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).

Key Points:

• The skill training 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. For assessment of demand, central ministries/departments/state governments, industry and businesses would be consulted.
• Under the scheme, a monetary reward is given to trainees on assessment and certification by third party assessment bodies. The average monetary reward would be around Rs 8,000 per trainee.
• Rs 1,120 crore is to be spent on skill training of 14 lakh youths, and special emphasis has been given to recognition of prior learning for which an amount of Rs 220 crore has been provided.