PM Kaushal Mudra Yojana: Linking Skill Training and Credit
Why in the news
The government is readying PMKMY, which pairs credit with skilling for emerging sectors; the Union Budget 2026-27 is expected to announce it.
Key facts
- Ministries: MSDE with the Ministry of Finance.
- Aim: funding for skills training, giving access to quality government and private trainers where fees are high.
- Target: all sections, including women, rural youth and persons with disabilities.
| Parent scheme | Role |
|---|---|
| PM Mudra Yojana (PMMY) | Collateral-free loans up to ₹10 lakh |
| Skill India Mission (PMKVY) | Employable skill training |
Implementation
- Five-year rollout and interest subvention for marginalised groups and special regions.
- Blended finance: government, CSR and philanthropy.
- Credit guarantees and better underwriting data to grow skills finance.
Exam angle
- Parents: PMMY and PMKVY; expected in Budget 2026-27.