In attempts to guide India's youth for making their future bright, the Government of India, under Ministry of Skill Development & Entrepreneurship (MSDE), has launched Pradhan Mantri Kaushal Vikas Yojana (PMKVY). This is a skill development scheme for the recognition and standardisation of the skills by India's Government. Its main aim is to increase the working efficiency of the incoming and existing daily wage workers along with increasing the knowledge towards employable skills.
All the training and assessment costs will be paid by the Government.
Under this scheme, the government has allocated Rs. 12,000 crores for the period 2016 - 2020 to benefit millions of youth of India. Rewards will be given to the candidates undergoing training by recognized centres at an average of Rs. 8,000 per candidate. The level of training would be done on the basis of National Skill Qualification Framework and Industry standards.
PMKVY scheme helps in starting your own business because it specializes in providing skill training to the youth for enabling them to lead a better life. Once the individual gains the skill training, it's then capable to begin its own business by opting for a business loan or it can hunt a new job by applying the new skills it has learned from PMKVY.