Budget 2023-24: For jobs of the future, FM announces PMKVY 4.0 to boost skilling

Feb 1, 2023

Synopsis
30 skill India international centers will also be set up across various states to make youth capable of exploring international opportunities.

Delivering the Union Budget 2023 on Wednesday, Finance Minister Nirmala Sitharaman announced the launch of the fourth phase of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to give a push to skilling in the country.

“PMKVY 4.0 will be launched to skill lakhs of youth within the next three years. It will cover courses for Industry 4.0, Covid, AI, robotics, mechatronics, IoT and drones,” Sitharaman said.

She further added that to skill youth for international opportunity, 30 skill India international centers will be set up across various states.

In addition to this, a unified "Skill India" platform will also be launched.

“It will enable demand based formal skilling, linking with employers (including MSMEs) and facilitating access to entrepreneurial schemes,” she said.

The Skill India mission was launched in 2015 with a focus on skilling, reskilling and upskilling. Under this, the government has been implementing various skill development schemes across the country through over 20 central ministries/departments. PMKVY 1.0 was launched in 2015, PMKVY 2.0 in 2017 and PMKVY 3.0 in January 2021.

[The Economic Times]