Skill development Current Affairs
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Union Government (Ministry of Finance) and Asian Development Bank (ADB) has signed $85 million loan agreement for Odisha Skill Development Project. It aims to improve the skill development eco-system in Odisha and establish World Skill Center (WSC), an advanced skill training center in state capital Bhubaneswar.
Significance of project
It will improve quality of State’s TVET (Technical and Vocational Education and Training) programs by making them relevant to industry and demand driven. It will impart advanced occupation-ready skills training aligned with international standards.
It will also complement efforts to target the employment needs of the emerging sectors in India and globally. It will engage Institute of Technical Education Services (ITEES), Singapore to support Odisha Skill Development Authority in setting-up and operationalizing WSC.
This centre will offer internationally bench marked advanced training programs for the working age population of Odisha. It will deliver eight training courses for 13,000 full-time students, provide training for 5,000 teachers and train 1,000 assessors.
The project will help over 150,000 people learn skills in priority sectors, including manufacturing, construction and services for formal employment. It will improve overall eco-system of skill development in Odisha by providing integrated services through entrepreneurship incubation center, career counseling and placement center, curriculum design and development center and education technology deployment center.
These important functions of WSC will support network of Government ITIs and develop skills and capacity of polytechnics, college of engineering, and other private skilling centers. ADB will also administer $2 million technical assistance grant from Japan Fund for Poverty Reduction, financed by Japanese Government that will support capacity development activities under the project
Asian Development Bank (ADB)
ADB is a regional development bank based out of Asia. It aims to promote social and economic development in Asia by achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It was established in December 1966. It is headquartered at Ortigas Centre in Manila, Philippines. It has total 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
Small Industries Development Bank of India (SIDBI) has launched Udyam Abhilasha (उद्यम अभिलाषा), a national level entrepreneurship awareness campaign. It was launched in 115 Aspirational Districts identified by NITI Aayog in 28 States.
The campaign will run from 3 October to 8 October, 2018 across India and reach out to around 15,000 youth. It will create and strengthen cadre of more than 800 trainers to provide entrepreneurship training to aspiring youths across these districts to enter admired segment of entrepreneurs.
For implementing this campaign, SIDBI has partnered with CSC e-Governance Services India Limited, a Special Purpose Vehicle, (CSC SPV) under Ministry of Electronics & IT through their CSCs. It will also tie-up with Banks, NABARD, NBFCs, SFBs, District Industries Centres, State Government etc.
CSC Village Level entrepreneurs (VLEs) will play role of catalyst under this campaign for these aspiring entrepreneurs. VLEs will provide training, support aspirants to establish new units, assisting them in availing loans and make them aware about various Government initiatives like Pradhan Mantri Mudra Yojana, SUI etc. and educate them in business literacy.
Objectives of Udyam Abhilasha
- Inspire rural youth in aspirational districts to be entrepreneurs by assisting them to set up their own enterprise.
- Impart trainings through digital medium across the country,
- Create business opportunities for CSC-VLEs.
- Focus on women aspirants in aspirational districts to encourage women entrepreneurship.
- Assist participants to become bankable and avail credit facility from banks to set up their own enterprise.
Small Industries Development Bank of India (SIDBI)
SIDBI is principal development financial institution for promotion, financing and development of Micro, Small and Medium Enterprises (MSME) sector in India. It was established on April 2, 1990 through an Act of Parliament (thus, it is statutory body). It is headquartered in Lucknow, Uttar Pradesh. It facilitates and strengthens credit flow to MSMEs and address both financial and developmental gaps in MSME eco-system across the country.