Union Cabinet allocates Rs 12,000 crore to Pradhan Mantri Kaushal Vikas Yojana

The Union Cabinet has given its approval for allocation of Twelve thousand crore rupees to Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
The funds will be used to impart skill training to 60 lakh youths and certify skills of 40 lakh persons acquired non-formally.
It is the revamped version of the PMKVY, which includes a mechanism to revive the traditional Guru-Shishya approach to train youth with the help of local craftsmen and trade practitioners.
Key Facts

• Under this scheme, skill training would be done based on industry led standards aligned to the National Skill Qualification Framework.
• Besides catering to domestic skill needs, the scheme will also focus on skill training aligned to international standards for overseas employment in European and Gulf countries etc.
• There will be scholarship for student undergoing training in high end job roles. Training centres will be categorised on the basis of their infrastructure and past performance.
• Third party agencies will be also deployed to validate their training efforts and placement records.
• Residential programmes will be promoted to youths from north-eastern States, Kashmir Valley, Leh region and Left-wing extremism-affected districts.

About Pradhan Mantri Kaushal Vikas Yojana

• PMKVY is the flagship outcome-based skill training scheme of the Union Ministry of Skill Development & Entrepreneurship. It is skill certification and reward scheme.
• Objective of the scheme is to enable and mobilize a large number of Indian youth to take up outcome based skill training and become employable and earn their livelihood.
• Under the scheme, trainees who are successfully trained, assessed and certified in skill courses run by affiliated training providers will be provided with monetary reward.

Month: Current Affairs - July, 2016