The third phase of Pradhan Mantri Kaushal Vikas Yojana (PMKVY 3.0) was 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.

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. The 729 Pradhan Mantri Kaushal Kendras (PMKKs) empaneled non-PMKK training centres and more than 200 ITIs under Skill India will be rolling out PMKVY 3.0 training to build a robust pool of skilled professionals.

On the basis of the learning gained from PMKVY 1.0 and PMKVY 2.0, the Ministry has improved the newer version of the scheme to match the current policy doctrine and energize the skilling ecosystem affected due to the COVID-19 pandemic.

                       It addresses the requirement for skill development across 29 sectors in which around 566 job roles have been identified for courses in which the youth can enrol and can get trained. These courses help in making them more employable with hands on experience on skills that will make them more employable and also more efficient in their work. It support those who have financial limitations to hone a skill of their choice.

               Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship outcome-based skill training scheme, of the new Ministry of Skill Development & Entrepreneurship (MSDE), aims to offer 24 lakh Indian youth meaningful, industry relevant, skill based training.

               The objective of this skill certification and reward 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, monetary reward would be provided to trainees who are successfully trained, assessed and certified in skill courses run by affiliated training providers. Under this scheme, the trainees will be offered a financial reward and a government certification on successful completion of training and assessment, which will help them in securing a job for a better future.

                           The Union Cabinet had approved India’s largest skill certification and monetary reward scheme, Pradhan Mantri Kaushal VikasYojana (PMKVY), on 20 March 2014. The scheme was launched by Prime Minister Shri Narendra Modi on 15 July 2015, on the occasion of World Youth Skills Day.

   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 skill trainings
• Reward candidates undergoing skill training by authorized institutions at an average monetary reward of Rs. 8,000 (Rupees Eight Thousand) per candidate.
• Benefit 24 lakh youth at an approximate total cost of Rs. 1,500 crores