G.K. CAPSULE -1
National Skill Development Fund (NSDF) and National Skill Development
Corporation (NSDC)
The Union Cabinet has given its
approval for restructuring of National Skill Development Fund (NSDF) and
National Skill Development Corporation (NSDC) to strengthen governance,
implementation and monitoring framework.
The approval would lead to
restructuring of composition of Board of NSDF and the NSDC to strengthen
governance, implementation and monitoring framework.
About NSDC
National Skill Development
Corporation India (NSDC), established in 2009, is a not- for-
profit company set up by the Ministry of Finance.
The present equity base of NSDC
is Rs.10crore, of which the Government of India through Ministry of Skill
Development & Entrepreneurship (MSDE) holds 49%, while the private sector
has the balance 51%.
Functions
§ NSDC
aims to promote skill development by catalyzing creation of large, quality and
for-profit vocational institutions.
§ It
also provides funding to build scalable and profitable vocational training
initiatives.
§ Its
mandate is also to enable support system which focuses on quality assurance,
information systems and train the trainer academies either directly or through
partnerships.
§ It
also develops appropriate models to enhance, support and coordinate private
sector initiatives.
About
National Skill Development Fund
The
National Skill Development Fund was set up in 2009 by the Government of India
for raising funds both from Government and Non Government sectors for
skill development in the country.
§ A public Trust set up by the Government
of India is the custodian of the Fund.
The Trust accepts donation, contribution in cash or kind from the Contributors
for furtherance of objectives of the Fund.
§ The Fund meets its objectives through
National Skill Development Corporation (NSDC).
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