The union cabinet has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs 12000 crore to impart skilling to one crore people over the next four years (2016-2020), according to an official statement.

PMKVY will impart fresh training to 60 lakh youths and certify skills of 40 lakh people acquired non-formally under the Recognition of Prior Learning (RPL). The target allocation between fresh trainings and RPL will be flexible and interchangeable depending on functional and operational requirements.

The Scheme, completely aligned to the Common Norms as notified earlier, would move to a grant based model where the training and assessment cost would be directly reimbursed to training providers and assessment bodies in accordance with the common norms.

Financial support to trainees will be given in the form of travel allowance, boarding and lodging costs. Post placement support would be given directly to the beneficiaries through Direct Benefit Transfer (DBT).

Mobilisation, monitoring and post training placement of trainees will be done through Rozgar Melas (placement camps) and Kaushal Shivirs (mobilization camps). There will be special focus on placement of trainees with incentives/disincentives linked to placement as envisaged in the Common Norms. A project based approach for Non formal training for traditional jobs is also proposed. PMKVY will, in addition to catering to domestic skill needs, also focus on skill training aligned to international standards for overseas employment in Gulf countries, Europe and other overseas destinations. There will be scholarship for student undergoing training in high end job roles under the Scheme.