While presenting the budget 2023-24 on Wednesday, Union finance minister Nirmala Sitharaman said that Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 will soon be launched to upskill lakhs of youth in the course of the next three years.
The scheme will cover the latest courses for Industry 4.0, like mechatronics, IOT, coding, AI, robotics, soft skills, 3D printing, and drones. Thirty Skill India International Centres will be set up in different states, with one likely to be in Rajasthan, to skill youth for international opportunities.
The alignment of courses with the needs of industry, on-job training, and industry partnership will be emphasized under PMKVY 4.0. More than 5.83 lakh youths have been trained in Rajasthan from 2019-22 under PMKVY, a ministry of skill development and entrepreneurship data stated.
Finance Minister Nirmala Sitharaman said, “As regards other schemes of MSDE, the third-party evaluation report on PMKVY 2.0 (2016-20) found that the average monthly income of PMKVY trained and certified individuals were 15% higher than the comparison group. Moreover, 76% of the candidates acknowledged that they have a better chance of getting employment after the training.”
“The digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform for enabling demand-based formal skilling, linking with employers, including MSMEs, and facilitating access to entrepreneurship schemes,” added Sitharaman.