Pradhan Mantri Kaushal Vikas Yojana 4.0 (PMKVY 4.0) Summary
Budget Allocation (2024-25)
- Budget Estimate (BE): ₹2,685.64 crore.
- Revised Estimate (RE): ₹2,318.00 crore.
- Utilization (as of September 2024): ₹895.21 crore (pending Cabinet approval for full implementation).
Key Features
- Focus on demand-driven skilling aligned with Industry 4.0 requirements.
- Integration of vocational education with general education as per NEP 2020.
- Introduction of Skill India Digital Hub (SIDH) for lifecycle tracking.
- Emphasis on new-age skills (e.g., AI, ML, AR/VR, green economy).
Achievements (2022-2024)
- Enrolled: 28.19 lakh candidates.
- Trained: 18.76 lakh candidates.
- Certified: 9.41 lakh candidates.
- Ongoing Training: 5.23 lakh candidates.
Challenges
- Staggered approvals have delayed full implementation.
- Underutilization of allocated funds: Only ₹502 crore was spent out of ₹1,558 crore allocated in FY 2023-24.
Measures for Improvement
- Increased collaboration with educational institutions and industries.
- Expanding the network of Skill India Centres in schools, colleges, and technical institutions.
- Streamlined procedures and better monitoring systems for efficient fund utilization.
Outlook for 2024-25
- Target: Certification of 45 lakh candidates.
- Anticipated improvement post-Cabinet approval of the scheme.
- Enhanced focus on cluster-level skilling for sectors like textiles, automobile, and pharmaceuticals.
