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November 24, 2017

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) got a SETBACK: Budget Cut to 1,100 Crores


Flagship program for Skill Development under Ministry of Skill Development and Entrepreneurship led NSDC, Pradhan Mantri Kaushal Vikas Yojana (PMKVY) got a huge pull back. The ministry raised demand of Rs.4,078 Cr. for PMKVY but the finance ministry allocated only Rs.1,100.

Similarly, for apprenticeship and training, the ministry asked for Rs.1,450 crore but got only Rs.286 crore. For Technical Assistance Scheme for NSDC, the ministry got just Rs.250 crore against the proposed Rs.1,401 crore. But what is more worrisome is the huge reduction made in the ministry’s flagship and ambitious programmes like the PMKVY.

The parliamentary standing committee on labour which looks into the budgetary allocation for the ministry of skill development, has expressed concern over the “unexplained” slashing of the funds by the finance ministry.

The PMKVY, approved in March last year, is aimed at imparting employable skills to one crore youth in three years. For the current financial year, the target has been set at 28 lakh, according to the official data.

Note: News shared for public awareness with reference to the information provided at leading e-news portals.

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