NSDC: The Promise of a Skilled India
As India advances with rapid strides to a shining future, its principal investment must be made in its demographic dividend. The fact that the youth constitute the lion’s share of India’s population is of capital importance. Thus, every initiative aimed at the holistic development of the youth and the enhancement of their skills is bound to be praiseworthy and beneficial to the growing needs of a growing economy like ours. The launch of the National Skill Development Corporation or NSDC as it is popularly called caters to this objective.
National Skills Development Corporation (NSDC) has been set up under section 25 of the Companies Act, 1956. It was established in 2008 and has been listed as a public limited company which has a not-for-profit objective to fulfil. Established by the Ministry of Finance under the “Public-Private Partnership” model, the NSDC attempts to empower the youth through the enhancement of their skills throughout the country. The funds that are disbursed to entities and organizations under the NSDC scheme help in the meeting of their working capital needs for all activities substantially related to the development of skills. These funds cannot be deployed for increasing capital through or her means such as the buying and construction of movable and immovable property such as land and machinery.
The funds that are disbursed to entities and organizations under the NSDC scheme help in the meeting of their working capital needs for all activities substantially related to the development of skills. These funds cannot be deployed for increasing capital through or her means such as the buying and construction of movable and immovable property such as land and machinery.
Functions of NSDC
NSDC assists in the provision of funds to set up profitable training centers and vocational centers to interested entities for making such opportunities available to the youth
- It helps in the establishment of high-quality business opportunities with minimum cost
- It provides an ecosystem of support that guarantees to impart high-quality training and assurance coupled with smoothening of information about such activities to all interested parties.
- With regard to the existing training academies, NSDC guarantees not only funding support but also support through partnerships.
- In performing its functions, NSDC provides support, enhancement, and growth of various private sector initiatives.
- In providing funds to the companies and organizations that promote or take part in skill development training and workshops.
Highlighted Features of NSDC
- NSDC has 462 training partners
- There are 11,000 training centers associated with NSDC
- NSDC has 2100 job roles
- The core team of trained people is of 12 people
- NSDC has a record of placing 68 lakh professionals.
Courses under NSDC
An accompanying initiative that was launched alongside the NSDC was the ‘Skill India Mission.’ The plan has an ambitious objective to provide holistic training to over 40 crore youth by the year 2022. These courses are meant to be vocational in scope and will also lead to the earning of certificates by the concerned individuals. This is expected to stand them in good stead in their professional journey and improve their chances of earning a better livelihood. The programs offered under this initiative can be executed through a wide range of courses under various training bodies. These range from the already existing Industrial Training Institutes (ITI) to various NSDC fee-based courses, including NAPS (Apprenticeship Scheme), Pradhan Mantri Kaushal Vilas Yojana, Deen Dayal Upadhyay Grameen Kaushal Vikas Yojana, Technical Intern Training Program (TITP), Jan Shikshan Sansthan, etc.
NSDC funding and its preliminary information
Any funding that is provided under the NSDC scheme usually carries a rate of interest of around 6% per annum. It can be availed by any entity other than a limited one. They usually have a repayment period of 7 years, including the period of the moratorium, which is set at 3 years. The promoter’s contribution is fixed at 15% of the investment requirement for not-for-profit entities and 25% of the investment requiredfor for-profit enterprises. The entities thus involved must provide a placement guarantee commitment of 70%.
Here we can see a detailed chart based on the features for more information on NSDC Funded Affiliation:
6% per annum
Using key projects as examples of NSDC working
To give one a fairer understanding of this Mission, one could take a detailed look at three major programs launched under it. These include the
Website – https://nsdcindia.org/
- Pradhan Mantri Kaushal Vilas Yojana (PMKVY)
PMKVY or the Pradhan Mantri Kaushal Vilas Yojana is a program for imparting vocational training and skills to the youth. This project is expected to make the youth industry-ready so that the chances for their employment increase manifold, and so do their opportunities for earning better incomes.
Recognition of Prior Learning (RPL): Short-term training programs with the added objective of facilitating learners’ placement are its immediate and major objectives. Along with these, programs are designed to enable the meticulous monitoring of progress and the organization of Rozgar Melas (job fairs), etc. Another program that focuses exclusively on vocational training is the Pradhan Mantri Kaushal Kendra Yojana (PMKKY)under which the Ministry of Skill Development and Entrepreneurship (MSDE) is expected to set up Model Training Centers in every state and in every district of the country.
- Key components:
- Short term trainings
- Recognition of prior learning (RPL)
- Special projects
- Kaushal and Rozgar Mela
- Placement assistance
- Standardized communication and branding.
Udaan is a project that has been begun by the Ministry of Housing under the NSDC. IT is, however, limited to the state of Jammu and Kashmir. As a Special Industry Initiative (SII), it targets the educated and unemployed youth of J&K to enhance their skills for enabling them to be employed. It also manages travel trips for youth to expose them to practical conditions in relation to the industry. Focusingprimarily on the graduates, postgraduates, and 3-year diploma engineers, Udaan attempts to fulfil the requirements of nearly 40,000 youth from the state.
Technical Intern Training Program or TITP is a joint venture launched through the signing of a memorandum between Welfare of Japan, MSDE, Ministry of Health, and Ministry of Foreign Affairs.
It is a program that focuses on Skill Development and the NSDC, as the chief nodal agency for implementation and monitoring has played a woman’s role in sending skilled youth to Japan for the purpose of gaining training and doing internships. With over 400 NSDC training partners and over 11000 centers, NSDC boasts of having trained 12 crore people, 68 lakh professionals who have been placed in the recent past. The path to future development lies in the potent hands of an organization such as this.
Due efforts, it is hoped, will lead to much better results, and the future of employment in the country is sure to be brighter than ever before.
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