In the last year, our country has faced a severe economic die down. From decreasing economy to hoards of unemployment, we have faced it all. Now, that the hope has surged with the covid vaccine being under the inoculation process, it is expected that our economic condition will be better soon. The government also planned to launch the PMKVY 3.0 initiative to help local youth and businesses to connect and find a way to improve their financial status.
Skill development is the prime target of the PMKVY initiative
For a country like India where the population is massive and employment is not sufficient, the launch of the PMKVY initiative is indeed a welcoming approach by the government. It will not only help local businesses connect with the youth but also build skill development amongst the deserving candidates. The PM’s goal of making “Atmanirbhar Bharat” will be fulfilled with this initiative. “PMKVY 2.0 broadened skill development with the inclusion of Recognition of Prior Learning (RPL) and focus on training. With the advent of PMKVY 3.0, the focus is on bridging the demand-supply gap by promoting skill development in areas of new-age and Industry 4.0 job roles”, said a statement from the ministry of skill development and entrepreneurship.
Local businesses will improve too, in accordance with the youth employment
Not only will this initiative help in improving the employment of the youth but in turn, it will also help in boosting local businesses that did not get recognition before. Mahendra Nath Pandey, the union minister of skill development and entrepreneurship said, “As a young nation, we’re poised to seize the opportunities that will make India the skill capital of the world. By taking the bottom-up approach to training, PMKVY 3.0 will identify job roles that have demand at the local level and skill the youth, linking them to these opportunities”. He further added, “PMKVY 3.0 will encourage healthy competition between states by making an available increased allocation to those states that perform better”.
The third phase targets 717 district and last 8 lakh candidates to breach the gap of lacking skills and industry requirements
This is the 3rd phase of this initiative and the last two phases have trained more than 1 crore youth for the industry requirements. The candidates will be given short terms training and RPL certifications that shall ensure they find the perfect job as per their skills. The PMKVY 3.0 is launched in 7171 districts and has an outlay of almost 950 crores. Another statement from the ministry of skill development and entrepreneurship said, “Launched in 717 districts, 28 states, and eight UTs, PMKVY 3.0 marks yet another step towards Atmanirbhar Bharat. PMKVY 3.0 will be implemented in a more decentralized structure with greater responsibilities and support from states/UTs and districts”.
The Policy Times suggestion
- It is a good initiative by the central government to manage the unemployment issues amongst the youth today. This will not only help India see a massive recovery from the economic crisis but will also help local businesses to grow more alongside providing employment to youths.
- Though the skill development process will be carried out by industry experts, it also needs to be seen that the ones who are not compatible for a certain job are not handed over the task or else it will bring downfall to both the business and the employee.