The Importance of Financial Inclusion

Skill development is an initiative that aims at standardizing skills amongst rural and semi-urban youth. These areas often have a high number of individuals who are inspired and capable but lack the resources and drive to seek out employment opportunities. Skill development initiatives aim to significantly change that. 


The Pradhan Mantri Kaushal Vikas Yojana is one such initiative. It was launched by the Government of India on 16th July 2015 and is currently an active initiative. Under this initiative, the employable youth of India is provided with quality training which would eventually help them seek out employment opportunities beyond that of a daily wage worker.


The aim is also to provide them with a job that gives them a stable source of income that is regular and more than that of a daily wage worker. Having an income helps empower them and makes them continue to work hard. 

The youths tend to drop out of school or even college. This initiative is inclusive to those youths as well. It also aims to increase productivity in the already existing workforce. The Pradhan Mantri Kaushal Vikas Yojana or PMKVY scheme targets the mobilization of youth followed by their enrollment into preferred job roles, training, assessment, certification, placement, and placement tracking.     


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