Introduction

Skill India is a campaign launched by Prime Minister Narendra Modi on 15 July 2015 which aims to train over 40 crore people in India in different skills by 2022. It includes various initiatives of the government like "National Skill Development Mission", "National Policy for Skill Development and Entrepreneurship, 2015", "Pradhan Mantri Kaushal Vikas Yojana (PMKVY)" and the "Skill Loan scheme". The National Skill Development Corporation India (NSDC) was setup as a one of its kind, Public Private Partnership Company with the primary mandate of catalysing the skills landscape in India.

It is based on the following pillars:
1. Create large and good quality vocational institute.
2. Reduce risk by providing patient capital. Including grants and equality.
3.To enable the creation and sustainability of support systems required for skill development.

This includes the Industry led Sector Skill Councils. PMKVY is the flagship scheme of the Ministry of Skill Development & Entrepreneurship. The objective is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL). Under this Scheme, Training and Assessment fees are completely paid by the Government PMKVY is applicable to any candidate of Indian nationality who is unemployed, school or college dropout, or as identified by the Sector Skill Council (SSC) for their respective job roles.

Rozgar Mela - The Scheme aligns itself to the common norms and, therefore, part of the Training Partner payment structure is linked to the placements. It is, therefore, important for the Training Partner to place at least 50 percent of the batch under PMKVY to ensure that its performance is not downgraded.Group Personal Accident Policy under Pradhan Mantri Kaushal Vikas Yojana (2016-2020) provides coverage to the candidates skilled by/through NSDC under PMKVY for a Sum Insured of 2 Lakhs for Accidental Death/Permanent Total Disablement for a period of three years from the policy generation date for the Candidates certified after 31.03.2018.

The objective of the National Policy on Skill Development and Entrepreneurship, 2015 will be to meet the challenge of skilling at scale with speed and standard (quality). It will aim to provide an umbrella framework to all skilling activities being carried out within the country, to align them to common standards and link the skilling with demand centres.

The Minister of State (Independent Charge) for Skill Development and Entrepreneurship Shri Rajiv Pratap Rudy has said that Skill Loan Scheme was launched by the Hon’ble Prime Minister on 15th July, 2015 with a view to support youth who wish to go through skill training programmes in the Country. This Skill Loan Scheme has replaced earlier Indian Banks Association (IBA) Model Loan Scheme for Vocational Education and Training. The Indian Banks Association (IBA) has already circulated the scheme to the Chief Executives of All Member Banks for implementation of the Scheme.

Any Indian National who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognised by Central or State education Boards or in a college affiliated to recognised university, training partners affiliated to National Skill Development Corporation (NSDC) Sector Skill Councils, State Skill Mission, State Skill Corporation can avail loan for the purpose