National Skill Development Corporation Current Affairs
The Union Cabinet has approved proposal for restructuring of National Skill Development Fund (NSDF) and National Skill Development Corporation (NSDC) to strengthen their governance, implementation and monitoring framework.
The purpose of restructuring is also to ensure better corporate governance, transparency and accountability in operations of NSDC. Besides it will also strengthen oversight role of NSDF. It will also lead to restructuring of composition of Board of NSDF and NSDC to strengthen governance, implementation and monitoring framework.
NSDC and NSDF were set up by Ministry of Finance and registered in July 2008 and January, 2009 respectively for implementing coordinated action for skill development. NSDF’s main objective is to enhance, stimulate and develop skills of Indian youth force by various sector specific programmes. It was incorporated as trust to act as receptacle for financial contributions from Governmental sources, bilateral and multilateral and other agencies. NSDF entered into Investment Management Agreement (IMA) with NSDC for utilization of its corpus to meet desired objectives of National Skill Development Mission and encourage skill development in country.
The Union Cabinet has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to provide skills training to youth across the country.
Decision in this regard was taken in the Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
About Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
- The PMKVY Scheme will be implemented by the Union Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation (NSDC).
- It will provide skills training to youth, including class 10 and 12 drop outs and aims to cover about 24 lakh people.
- The target for skilling under the scheme will be associated with Union Government’s flagship programmes such as Make in India, Digital India, Swachh Bharat Abhiyan and National Solar Mission.
- The skill training will involve soft skills, good work ethics, personal grooming, behavioural change for cleanliness etc.
- Inspection of training under PMKVY will be done by Sector Skill Councils and the repective State Governments.
- The skill training will be undertaken on the basis of demand assessed on the basis of skill gap studies conducted by the NSDC for the period 2013-17.
- Fund Allocation- The scheme will be implemented with an outlay of 1, 500 crore rupees.
- Of the total 1,500 crore rupees, about 1,120 crore rupees will be spent on skill training of 14 lakh youth.
- 150 crore rupees allocated for training of youth from the North-East region.