Skill plays a pivotal role in unlocking human potential. As per the Labour Bureau Report 2014, the current size of India's formally skilled workforce is only 2%. Skill India mission aims to skill over 40 crore people by 2022. Govt. cannot accomplish this task alone. Private Sector, NGOs, Educational institutions etc. need to be involved in the process of skilling.
Pradhan Mantri Kaushal Vikas Yojana is being implemented through the NSDC. Monetary reward would be provided to trainees who are successfully trained and assessed. National Skill Development Corporation is a PPP formed in 2008 as a not for profit company under Companies Act. It acts as a catalyst in skill development by providing funding to enterprises and organisations that provide skill training, For every proposal funded by NSDC, 25% is invested by the training organisation and 75% is provided by NSDC in the form of soft loan at 6% interest rate. It is an initiative to provide vocational training to the youth.
Pradhan Mantri Kaushal Vikas Yojana is being implemented through the NSDC. Monetary reward would be provided to trainees who are successfully trained and assessed. National Skill Development Corporation is a PPP formed in 2008 as a not for profit company under Companies Act. It acts as a catalyst in skill development by providing funding to enterprises and organisations that provide skill training, For every proposal funded by NSDC, 25% is invested by the training organisation and 75% is provided by NSDC in the form of soft loan at 6% interest rate. It is an initiative to provide vocational training to the youth.
NSDA is an autonomous body under Ministry of Skill Development and Entrepreneurship.
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