PMKVY 4.0 Misses 90% of 2025-26 Target, Spends Only 24% of Revised Budget
New Delhi: PMKVY 4.0 has registered a steep decline against targets set by the government for physical achievement for the year 2025-26. With only 2.87 lakh candidates trained and certified, 30 lakh candidates remain untrained, representing poor achievement of only 9.57% against the physical target. In contrast, other data indicate that PMKVY 4.0 has failed to achieve even the minimum of 90.43% requirement.
Visibility into allocations also supports the argument against PMKVY 4.0. While Budget Estimate (BE) for 2025-26 was ₹1,915 crores, the subsequent revision reduced that estimate to ₹1,100 crores. PMKVY 4.0 actually spent ₹265.57 crores. That is a spending level of 24.1% of the revised allocation, not 24% of the original Budget Estimate.
PMKVY 4.0 Target vs Achievement
PMKVY 4.0 set the following certification targets and achievements for the financial years 2023-24 to 2025-26.
|
Financial Year |
Target |
Achieved |
Shortfall |
|---|---|---|---|
|
2023–24 |
45 lakh |
2.60 lakh |
42.38 lakh |
|
2024–25 |
45 lakh |
13.29 lakh |
31.71 lakh |
|
2025–26 |
30 lakh |
2.87 lakh |
27.13 lakh |
Over the last three years, the scheme has registered a large portion of its intended candidates. PMKVY 4.0 had enrolled 33.47 lakh candidates by 2025; 27.10 lakh were trained, 19.71 lakh were assessed, and 18.80 lakh were certified. PMKVY 4.0 has made great progress in achieving the goals of certification.
Why Has PMKVY 4.0 Fallen Behind?
The parliamentary committee has identified Implementation delays as a primary reason. PMKVY 4.0 became operational under the restructured Skill India program only in February 2025. The other parliamentary committee noted that during the earlier stages of the scheme, PMKVY could only implement the scheme for about 15 of the 36 months, due to phased approvals, slowing the progress of the scheme.
The committee has also pointed at the poor use of funds and the ministry’s ability to implement numerous schemes. The committee indicated improving coordination with the states and rationalizing the number of programs as necessary. There is another gap that makes the numbers less meaningful: training does not lead to jobs. Placement outcomes have been identified as important outcomes of the parliamentary committee to evaluate if a skilling program is beneficial.
Government Emphasizes Improved Employment Numbers
The latest assessment by the government provides a more optimistic outlook on PMKVY for those who have completed training. The Arun Jaitley National Institute of Financial Management (AJNIFM) conducted an independent impact evaluation of Short-Term Training (STT) and found that the combined share of employed and self-employed STT respondents at 26.6% increased to 45.4% after the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) training.
An additional report by the government suggests that 41.4% of STT candidates and 48.9% of Recognition of Prior Learning (RPL) candidates benefited from training and certification by reporting increased income. The PMKVY is also focused on newer job roles including AI, cybersecurity, semiconductors, 5G, drone technology, green energy and additive manufacturing as well as increased engagement from industry and on-the-job training.
What Comes Next for PMKVY?
The performance gap triggered discussions on what to expect from the next iteration of the scheme. As the government works on PMKVY 5.0, it is expected that there will be changes to allow people the choice to come in and out of the scheme multiple times, the ability to track the impact of training, skill vouchers, skill loans, outcome bonds, as well as the addition of a skill identity in the APAAR ID framework.
For the 2026-27 allocation, the Union government has continued PMKVY in the broader Skill India Program. The combined allocation for PMKVY, Jan Shikshan Sansthan and PM-NAPS is ₹2
Final Thoughts
Recent data for PMKVY 4.0 demonstrate the program’s execution woes. PMKVY 4.0 aims to have 30 lakh participants by the end of the year. During 2025-26, only 2,87,000 participants received certification from the program. In addition, only ₹265.57 cr. was spent against an allocation of ₹1,100 cr. for this financial year. The government’s assessment of the employment impact of the program suggests that participants have recorded positive employment outcomes.
However, the delivery of the program to participants at the scale required remains the primary challenge.PMKVY 4.0’s upcoming phase aims to offer more courses, but the primary test is converting the allocated budget to credible training, certification, and employment outcomes.
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