Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

What is PMKVY?

  • Flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) to be implemented by National Skills Development Corporation (NSDC).
  • A skill certification scheme to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
  • The scheme replaces the earlier Standard Training Assessment and Reward (STAR) Scheme.

Need For PMKVY

  • Currently, only 5% of India’s workforce has any formal skill training.
  • Therefore several sectors of the country’s economy face shortage of skilled people and are mired with low productivity levels due to poor quality of workforce.
  • At the same time, large sections of the country’s youth are looking for economic and livelihood opportunities.’
  • This would also enable the country to take advantage of its favourable demographic profile.

Objectives of PMKVY

  • Encourage standardization in the certification process and create a registry of skills.
  • Enable and mobilize a large number of Indian Youth to take up skill training and become employable and earn their livelihood.
  • Increase productivity of the existing workforce and align the training and certification to the needs of the country.
  • Provide Monetary Awards for Skill certification to incentivize youth for skill trainings.
  • Reward candidates undergoing skill training by authorized institutions at an average monetary reward of Rs. 8,000 per candidate.

Key Features of PMKVY

  • Skill training would be done based on the National Skill Qualification Framework (NSQF) and industry led standards.
  • Monetary reward to trainees on assessment and certification by third party assessment bodies.
  • Awareness building and mobilization efforts to be done through skill melas organized at the local levels.
  • Focus on mentorship support and placement facilitation.
  • Skill training to be done on the basis of demand, assessed on the basis of recent skill gap studies conducted by the NSDC for the period 2013-17.
  • Skill training under the new scheme will primarily be focused on a first time entrants to the labour market and primarily target class 10 and class 12 drop outs.
  • All training providers will have to undergo a due diligence before being eligible for participating under this scheme.
  • Focus under the PMKVY would be on improved curricula, better pedagogy and better trained instructors.
  • Skill Development Management System (SDMS) to verify and record details of all training centres a certain quality of training locations and courses.
  • Respective state governments will be responsible for 25% of the total training targets under the scheme.

Conclusion

  • The manner in which this scheme has been launched is laudable and shows the commitment of the government towards skilling the youth.
  • However, skills can be built only after acquiring basic competency – the kind that only school education imparts.
  • Therefore, it is imperative to ensure that the foundational years are value adding by strengthening learning in primary and elementary schools across the country.
  • This will go a long way in realizing the vision of a truly ‘skilled India’.

PRADHAN MANTRI GARIB KALYANYOJANA-Around three weeks after its announcement to withdraw high-denomination currency notes, the government has introduced amendments to the Income Tax Act in Lok Sabha on Monday.
This enables the imposition of a higher penalty and tax rate on assessees of unexplained deposits.
The Taxation Laws (Second Amendment) Bill, 2016 also proposes to introduce a scheme named the 'Pradhan Mantri Garib Kalyan Yojana, 2016' as the name suggests, its aim is to use black-money collected post-demonetisation in welfare schemes for the poor.
The new scheme - Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016- is part of the Taxation Laws (Second Amendment) Bill, 2016 introduced in the Parliament on Monday. So, what does the new black money scheme mean?
Taxation Laws (Second Amendment) Bill, 2016
* Attempts to plug loopholes in existing I-T Act being misused to conceal black money
* Penalty provisions made more stringent
* Provides for a two-tier tax penalty regime
* Black money holders get a chance till December 30 to deposit unaccounted money in banks
* Need to pay higher tax, penalty and a surcharge of 50 per cent
* Will also have to deposit 25% of unaccounted money in the PMGKY scheme
* Zero-interest, lock-in for four years in PMGKY scheme
But what if they fail to make use of this window?
* They can file tax returns at the end of the financial year and declare unknown income
* Have to pay a steeper 60% tax, 25 % surcharge
* On Rs. 100 they will have to pay Rs 75
* An additional 10 per cent penalty can also be levied in some cases
In case of misreporting or under-reporting or any other wrongdoing current provisions of a levy of 50% up to 200% applicable
YOGA IN UNESCO’S INTANGIBLE CULTURAL HERITAGE OF HUMAMITY LIST-In a major international recognition for India, UNESCO inscribes Yoga in its list of Intangible cultural heritage of humanity; Yoga now joins a list of 12 other heritages from India.
Yoga, India's one of the ancient practices has now been inscribed as an element in the UNESCO's list of Intangible Cultural Heritage of humanity during the 11th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage held in Addis Ababa, Ethiopia.
Yoga has become the 13th intangible cultural heritage that has been listed from India so far with UNESCO.
Prime Minister Narendra Modi has played a key role in having the United Nation declare June 21st as the International Yoga Day in 2014.