Union Cabinet has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to  impart skill training to one crore people over the next 4 years(2016-2020), Rs 12,000 crore has been allocated for this yojana. PMKVY will impart fresh training to 60 lakh youth and certify 40 lakh people who have acquired skills non-formally under the Recognition of Prior Learning (RPL).

• In addition to catering to domestic skill needs, the scheme will also focus on skill training aligned to international standards for overseas employment in Gulf countries, Europe and other overseas destinations. There will be scholarship for student undergoing training in high end job roles. Skill training would be done based on industry led standards aligned to the National Skill Qualification Framework( NSQF).

• Financial support to trainees will be given in the form of travel allowance and by taking care of boarding and lodging costs. Post-placement support will be given directly to the beneficiaries through Direct Benefit Transfer (DBT).
• Disbursement of training cost to partners will be linked to Aadhaar and biometrics for better transparency and targeting.

• Mobilisation, monitoring and post-training placement of trainees will be done through Rozgar Melas (placement camps) and Kaushal Shivirs (mobilisation camps).

• The government has approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni. These include two closed urea units of Fertilizer Corporation India Limited at Sindri and Gorakhpur and Barauni unit of Hindustan Fertilizers Corporation Limited.

• The new units will meet the growing demand of urea of Bihar, West Bengal and Jharkhand. Apart from growth of regional economy, this unit will create opportunities for 1200 direct and 4500 indirect employments.

• In view of the recommendations of the sub-group of chief ministers on skill development, state governments will be involved through a project-based approach under PMKVY 2016-20, with 25 per cent of the total training targets, both financial and physical, being allocated under this stream of the scheme.