PMKVY is a governmental framework that supports the Indian economy by providing the country’s youth with employable skills and expertise. PMKVY’s key goal is to cover one crore young people during the 2016-2020 period. The framework is essentially a Skill Qualification Scheme that enables industrial skill training to be taken up by many youngsters of India. This qualification will allow them to gain a better livelihood for themselves and, in turn, can also help boost the Indian economy.
Around 22% of India’s population is below the poverty line. PMKVY is an initiative of the government which seeks to create the skills of the people who focus on increasing their revenue and rising. The Scheme provides skills for educated people such as drop-outs from college or school and unemployed.
Eligible PMKVY beneficiaries
The system applies exclusively to the Indians:
- Pass-outs/drop-outs at school or college.
- In order to use the advantages of the scheme one should have proof of identity – Aadhaar / Voter ID and bank accounts on its name.
PMKVY’s Main Components
- Short-Term Training
There are various training centers under PMKVY in different regions to provide youth training. This training includes training in business, training in entrepreneurship, the growth of soft skills, and monetary and digital literacy. The training offered encourages many unemployed people and school or school dropouts to get a job in a better way and earn their livelihood. The National Skills Certification System (NSQF) is covered by the training program. Under this system, the time span for the training program is about 150-300 hours.
- Recognition of Prior Learning
A further attractive part is RPL. PMKVY issues certificates acknowledging any previous learning experiences of an individual. The evaluation bodies approved by the Sector Competence Councils evaluate individuals.
RPL gives INR 500 certified candidates along with exposure to digital and non-digital job concepts. Business requirements change very often and this software enables people to remain relevant to the requirements.
- Dedicated Ventures
Training is offered in special areas, such as government bodies, business bodies, and corporate offices, under the special project portion of PMKVY.
The training offered is for specific job roles not specified in the Qualification Packs (QPs)/National Occupational Standards (NOSs) that are available. Terms and conditions for special projects are slightly different for any stakeholder from short-term preparation. The proposed stakeholder could be either Central Government Entities or State Government(s)/Autonomous Body(s) or some other comparable agency or organization wishing to provide candidate training.
- Kaushal and Rozgar Mela
Social mobilization is central to PMKVY’s progress. Dynamic group support promotes simplicity and transparency and allows to use the network’s aggregate knowledge for improved operation. Following this through a given preparation phase, PMKVY gives extraordinary importance to the contribution of the objective recipients. At periodic intervals with press/media inclusion, TPs will lead to Kaushal and Rozgar Melas; they are additionally expected to participate effectively in National Career Service Melas and on-ground exercises.
- Guidelines on Placement
Efforts by the PMKVY are made to provide candidates qualified and accredited under the Scheme with placement opportunities. Under the placement criteria, the training partners of PMKVY provide individuals trained under this framework with placement opportunities. Partners in the training serve as support for the growth of entrepreneurs.
Once you attain new skills and training, you can even venture out on your own by starting a small scale business. Availability of easy business financing has made new businesses sprout in India recently. However, you must ensure that you choose the right business and also a quality lender if you are thinking of taking out a business loan. See that it comes with features like flexible tenure for repayment, low business loan interest rates, a swap option for the loan balance, and other top-up options. Protection that you can use to cover the individuals that you love could be an added benefit.