Indian Economy
General Knowledge

Skill India & Startup India

Skill India—Pradhan Mantri Kaushal Vikas Yojna

» Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a skill development initiative scheme of the Government of India for recognition and standardization of skills.
» The scheme aims to encourage aptitude towards employable skills and to increase working efficiency of probable and existing daily wage earners, by giving monetary awards and rewards and by providing quality training to them.
» Those wage earners already possessing a standard level of skill will be given recognition as per scheme, and an average award amount for them is Rs. 2,000 to Rs. 2,500. In the initial year, a target to distribute Rs. 15 billion (US $ 220 million) has been laid down for the scheme.
» Training programmes have been worked out on the basis of National Occupational Standards (NOS) and qualification packs specifically developed in various sectors of skills. For this qualification, plans and quality plans have been developed by various Sector Skill Councils (SSC) created with participation of Industries. National Skill Development Council (NSDC) has been made coordinating and driving agency for the same.
» The scheme aims to train upto 1 crore youth of the country by the end of 2020.

Startup India

» Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage startups with jobs creation.
» The campaign was first announced by Prime Minister Narendra Modi in 2015.
» It aims to restrict role of States in policy domain and to get rid of ‘license raj ’ and hindrances like in land permissions, foreign investment proposal, and environmental clearances.
» It was organized by Department of Industrial Policy and Promotion (DIPP).
» The Startup India initiative is also aimed at promoting entrepreneurship among SCs/STs, women communities.
» Rural India’s version of Startup India was named the Deen Dayal Upadhyay Swaniyojan Yojana.
» To endorse the campaign, the first magazine for startups in India ‘The Cofounder’ was launched in 2016.