Union Government launched four initiatives as part of Skill India vision

Prime Minister Narendra Modi on 15 July 2015 formally launched four initiatives- National Policy for Skill Development and Entrepreneurship 2015, National Skill Development Mission (NSDM), Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and Skill Loan scheme-aimed at achieving the vision of Skill India.

They were launched in a programme held on the occasion of first-ever World Youth Skills Day in New Delhi.

The four initiatives are aimed at making India as a hub of world’s human resource capital.

National Policy for Skill Development and Entrepreneurship 2015: It is the second such policy on skill development since independence and intended to replace the National Policy on Skill Development 2009 by adding entrepreneurship to the policy framework.

National Skill Development Mission (NSDM): The mission is intended to operationalise the National Policy for Skill Development and Entrepreneurship 2015. It has seven sub missions under it that are monitored by a Governing Council under the chairmanship of Prime Minister.

Pradhan Mantri Kaushal Vikas Yojana (PMKVY): It is a demand-driven, reward-based skill training scheme. Under the scheme, besides assessing and certifying 10 lakh youth for the skills they already possess, around 24 lakh youth will be skilled over the next year.

Skill Loan scheme: Under the scheme, loans ranging from 5000-1.5 lakhs rupees will be made available to 34 lakh youth to attend skill development programmes. It will be operational between 2015 and 2020.

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