Pradhan Mantri Kaushal Vikas Yojana (PMKVY 3.0)

PMKVY 3.0

The third phase of the government's flagship skilling scheme Pradhan Mantri Kaushal Vikas Yojana (PMKVY 3.0) was lauched in Jan, 2021, with an outlay of Rs 948.90 crore.

It is launched in 717 districts, 28 States/eight UTs in a more decentralized structure with greater responsibilities and support from States/UTs and Districts (District Skill Committees (DSCs)).

The scheme is launched by Ministry of Skill Development and Entrepreneurship to envisage training of eight lakh candidates over the scheme period of 2020-2021.

PMKVY 3.0 training will be provided by 729 Pradhan Mantri Kaushal Kendras (PMKKs), empaneled non-PMKK training centres and more than 200 industrial training institutes under Skill India.

PMKVY 1.0

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by National Skill Development Corporation (NSDC).

It aims to train over 40 crore people in India in different skills by 2022.

PMKVY 1.0 launched on 15th July, 2015 (World Youth Skills Day), was India's largest Skill Certification Scheme, implemented by the National Skills Development Corporation (NSDC) under the guidance of the Ministry of Skill Development and Entrepreneurship (MSDE).

PMKVY 2.0

PMKVY 2.0 was launched for the period of 2016-20 with a budget of Rs. 12,000 Crore.

PMKVY 2.0 was implementation through two components:

1) Centrally Sponsored Centrally Managed (CSCM): Implemented by National Skill Development Corporation (NSDC), 75 per cent of the PMKVY 2016-20 funds and corresponding physical targets have been allocated under CSCM.

2) Centrally Sponsored State Managed (CSSM): Implemented by State Governments through State Skill Development Missions (SSDMs), 25 per cent of the PMKVY 2016-20 funds and corresponding physical targets have been allocated under CSSM.

The Skill India Mission was launched by Prime Minister Narendra Modi on July 15, 2015 with the launch of its flagship scheme PMKVY to unlock the vision of making India the Skill Capital of the world.

National Skill Development Corporation (NSDC)

National Skill Development Corporation (NSDC) is a not-for-profit public limited company incorporated on July 31, 2008 under Companies Act, 1956.

NSDC was set up by Ministry of Finance as Public Private Partnership (PPP) model.

The Government of India through Ministry of Skill Development & Entrepreneurship (MSDE) holds 49% of the share capital of NSDC, while the private sector has the balance 51% of the share capital.