Vikas Yojana – Skill India Program
The National Skill Development Corporation (NSDC) aims to aid the disbursement of technical, skill-based, and vocational training to Indians who do not have access to such facilities, by funding instructors, institutions, and enterprises.
The NSDC’s mission is to:
- Upgrade skills through involvement in the industry.
- Develop the frameworks of curriculum, quality assurance, and those needed to establish standards.
- Coordinate the efforts of the private sector in relation to training through proper Public-Private Partnership (PPP) models.
- Involve the private sector financially and operationally for the development of skill.
- Prioritize such initiatives that have a multiplier effect.
- Bring financial support to those sectors that are missing market mechanisms, or are running ineffectively.
The NSDC has stated is objective as the complete up-skilling of at least 150 million people by the year 2022. It plans to do this by incubating and fostering the initiatives and projects of the private sector through funding.
In order to achieve the huge target of providing skill training to so many Indians, the NSDC plans to build a strong corpus, ensure that the funds are re-circulating to a large extent through equities or loans instead of grants, and to develop high quality low cost models. There are three key roles the NSDC will play in this regard:
- Funding and Incentivising: This is the most basic role the NSDC plays in relation to helping trainers and institutions. It involves the disbursement of funds in the form of equities or loans, or through supportive financial incentives and grants in order to support the efforts of the private sector, and provide tax breaks. The nature of funding (loan, grant, etc.) depends on the viability of the institution to the segment. Over time, stronger and more viable and sustainable business models will be created.
- Enabling of Support Services: Individual skill trainers and skill training institutions alike require certain supplementary support services in order to function to their maximum potential. Faculty, curriculum, technology integration, establishing standards, and quality assurance are some of the areas in which trainers and institutions usually require support. The NSDC can provide the required support and skill required to make the skill imparting process as efficient and successful as possible.
- Shaping / Creating: The NSDC plans to seed the necessary momentum required to initiate participation by private players and stakeholders in the development of skill.
The target of providing skill training to 150 million people by 2022 requires the fundamental reform of education across the higher, secondary, and primary levels, in addition to significant development and enhancement of supplementary skills. The NSDC primarily focuses on the supplementary development of skill and the creation of a seamless education system.
The NSDC will provide different kinds of support to institutions that fall under different segments, as defined by the NSDC. The segments are based on the skill group’s marketability and the income level of the student population.
- Attractive Segment: In this first segment, the NSDC will limit itself to playing a reactive role. This is because the market and other players will support the scale up of skill trainers and training institutions.
- Viable segment involving uncertainty / high risk / with marginal economics: The NSDC focusses most of its funding and efforts in this section, building it up to be attractive enough to draw investments from private investors.
- Completely unviable segment: The NSDC works in this segment along with the help, support, and in collaboration with the government of India. The primary functions of the NSDC here are to develop innovative business models that can move the players in this segment into a more viable segment.
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