Government Current Affairs - 2019

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Government appoints AM Naik as Chairman of National Skill Development Corporation

Union Government has appointed Anil Manibhai Naik as Chairman of National Skill Development Corporation (NSDC). He is currently Group Chairman of engineering conglomerate Larsen and Toubro (L&T). He was awarded Padma Bhushan, India’s 3rd highest civilian award in 2009 for his outstanding contribution to economic growth of the country.

National Skill Development Corporation (NSDC)

NSDC is Public Private Partnership (PPP) under Ministry of Skill Development & Entrepreneurship (MSDE). It was founded in 2009 as not-for-profit company by Ministry of Finance to address need for providing skilled manpower across various industry sectors. Government of India (GoI) through MSDE holds 49% of share capital of NSDC, while private sector has balance 51% of the share capital. NSDC aims to promote skill development by catalyzing creation of large, quality and for-profit vocational institutions. Its objective is to create training capacity in the country; fund vocational training initiatives and create market ecosystem for skill development. Its mandate is to train 150 million people by 2022. It is also involved in re-skilling and also in catering to skilled manpower requirement of overseas markets, most notably that of Japan (under TITP) and UAE.

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First-ever India Russia Strategic Economic Dialogue held at St. Petersburg

The first-ever India Russia Strategic Economic Dialogue was held at St. Petersburg in Russia. Indian side was led by NITI Aayog Vice Chairman Rajiv Kumar and Russian delegation headed by Economic Development Minister Maxim Oreshkin.

Key Facts

The two-day forum provided participants platform to discuss development of bilateral ties in trade, investment, technology and industry. It was aimed to bring together key business figures from both countries. Transport, agriculture and agro-processing, Small and Medium Enterprises (SMEs), digital transformation and frontier technologies and industrial cooperation were some of the key areas of focus of the forum.

 Indo-Russian Strategic Economic Dialogue

It was created by PM Narendra Modi and President Vladimir Putin in their informal summit (held at Sochi in May 2018) to give big push to economic partnership between both countries that has started to gain momentum since 2017. It aims to focus on macro picture of economic partnership and also explore partnership and joint ventures in services and IT sectors. It seeks to put in place mechanism for partnership between resource-rich Russian regions and Indian states. In effort to boost bilateral trade to $30 billion by 2025, both countries have agreed to give high priority to removal of obstacles to trade in order to improve upon 21.5% growth in two-way trade recorded last year. India has already launched Strategic Economic Dialogue with China.

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