The Ministry of Skill Development and Entrepreneurship (MSDE) is preparing to launch the fifth iteration of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) soon. This comes as PMKVY 4.0 has certified only 15% of its three-year target.
PMKVY 4.0 Lags Behind Targets
PMKVY 4.0, launched in 2022, aims to certify 30 lakh individuals by the end of the financial year 2025-26. As of December 31, 2025, the scheme has certified 18,79,742 individuals. This represents a significant shortfall, with only 2.87 lakh certifications planned for 2025-26 against the target. Year-wise data shows a consistent deficit.
| Financial Year | Target (Lakh) | Achieved (Lakh) | Shortfall (Lakh) |
|---|---|---|---|
| 2023-24 | 45 | 2.6 | 42.38 |
| 2024-25 | 45 | 13.29 | 31.71 |
| 2025-26 | 30 | 2.87 | 27.13 |
Placements, a key measure of success, were delinked in PMKVY 4.0. In earlier phases, 57% of trainees were placed. The current phase has achieved approximately 15.65% of its target over the last three financial years.
PMKVY 5.0: New Features and Focus
PMKVY 5.0 is planned for launch in the upcoming financial year. New features aim to address previous shortcomings and align with the National Education Policy (NEP) 2020. The ministry is considering a multiple entry-multiple exit framework. Innovative financing options like skill vouchers, skill outcome bonds, and skill loans are proposed.
A unique identity for skills will be integrated with the Automated Permanent Academic Account Registry (APAAR) ID. The new version will prioritize short-term training (STT) over recognition of prior learning (RPL). Governance will be strengthened in partnership with states.
Key Proposed Features for PMKVY 5.0:
- Multiple entry-multiple exit framework.
- Skill vouchers, outcome bonds, and skill loans.
- Post-training outcome tracking.
- International training opportunities and foreign language training.
- Training through government and private Centres of Excellence.
- Overhauled trainer and assessor training.
- Formative and summative assessments.
- Skills identity linked with APAAR ID.
The scheme, along with Jan Shikshan Sansthan (JSS) and the National Apprenticeship Promotion Scheme (NAPS), received an allocation of Rs 2,800 crore in the 2026-27 Union budget.
Past Audits and Recommendations
A recent audit by the Comptroller and Auditor General of India (CAG) identified numerous irregularities in PMKVY operations. Recommendations from a third-party evaluation by the Arun Jaitley National Institute of Financial Management (AJNIFM) include systematic mapping of assessors, differentiated cost norms for advanced courses, improved monitoring of training partners, and rigorous post-certification tracking for up to one year.