Empowering Youth: PMKVY's New Phase of Skill Development

The government’s PMKVY programme has successfully trained 1.6 crore beneficiaries with a 43% placement rate in its first three phases. The ongoing fourth phase emphasizes recognized institutions, skill development, and entrepreneurship modules. It aims to better align training with improved funding and career options.

The Pradhan Mantri Kaushal Vikas Yojana (PMKVY), a flagship initiative under the Ministry of Skill Development and Entrepreneurship, has reached a significant milestone by training 1.6 crore beneficiaries so far. According to Minister Jayant Chaudhary, the program recorded a 43% placement rate in its initial three phases, equating to 24.37 lakh placements out of 71 lakh trained individuals.

Currently in its fourth phase, the PMKVY aims to refocus on recognized training institutions and enhance its skill training under its Short Term Training (STT) and Recognition of Prior Learning (RPL) components. The minister emphasized that improved funding and specific skill training are crucial elements of the ongoing phase.

This phase also introduces entrepreneurship modules designed to equip candidates with financial and legal literacy skills necessary for small business management. Starting from FY 2022-23, PMKVY 4.0 targets empowering trainees to make informed career choices, bolstering their employability and self-employment opportunities.

(With inputs from agencies.)