Monday, August 19, 2013

National Skill Certification and Monetary Reward Scheme launched



Union Finance Minister Shri P Chidambaram unveiled the National Skill Certification and Monetary Reward Scheme that will be implemented on pan-India basis.



The scheme was first proposed by the Finance Minister in the last Union Budget to allocate Rs 1,000 crore for a scheme that will motivate the youth of this country to acquire a vocational skill. The scheme is expected to benefit a million people in the first year of its implementation.

The scheme that is branded as STAR (Standard Training Assessment and Reward) for promotional purposes envisages that a monetary reward that will in essence financially help those who wish to acquire a new skill or upgrade their skills to a higher level.

The major highlights of the scheme are:

• A Rs 1000 crore pan-India scheme launched by the Ministry of Finance

• Branded as STAR – Standard Training Assessment and Reward

• To benefit 1 million people

• Scheme to be implemented by National Skill Development Corporation

• Each tested and certified trainee to get an average of Rs 10,000 to cover training costs.

National Skill Development Corporation, a body under the Ministry of Finance, is one of its kind public private partnership endeavour with 51 per cent equity held by private sector and 49 per cent by the Union Government. Formed in 2010, NSDC is a professionally run not-for-profit company that includes 22 Sector Skill Councils and 87 training partners with over 2500 training centres spread across 352 districts in the country.

No comments:

Post a Comment