Pradhan Mantri Kaushal Vikas Yojna (PMKVY) | Skill India Mission

• About PMKVY:
• Objective: Encourage skill development for youth by providing monetary rewards for 
• successful completion of approved training programs. 
• Specifically, the Scheme aims to:
  

1. Encourage standardization in the certification process and initiate a process of creating a registry of skills
2. 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.
3. Provide Monetary Awards for Skill Certification to boost employability and productivity of youth by incentivizing them for skill trainings
4. Reward candidates undergoing skill training by authorized institutions at an average monetary reward of Rs. 8,000 (Rupees Eight Thousand) per candidate.
5. Benefit 24 lakh youth at an approximate total cost of Rs. 1,500 crores

FOR DETAILED ANALYSIS OF SKILL DEVELOPMENT INITIATIVES - CLICK HERE

To sum it up the focus under PMKVY is on standardisation in certification, mobilising youth to take training so that they get employment, encouraging youth to get trained by awards.

[Source: Ministry website]