PM Modi sets up new Ministry for Skill Development and Entrepreneurship
Prime Minister Narendra Modi has created a Ministry for Skill Development and Entrepreneurship in order to address the challenge of skills deficiency in the country. Sarbananda Sonowal has been appointed Minister of State for Skill Development and Entrepreneurship.
As per National Skill Development Corporation India (NSDC), a PPP initiative for skill development, India is not producing sufficient number of people with skills for an economy as a whole to grow at a 10-12% growth. As per an NSDC survey of the skills gap, over the next 12 years Indian industries need 240 million people just to sustain the current growth rate. The whole education system only produces about 12 million graduates and another 4.3 million people who come out of the education system as skilled people in a year.
India aims skilling / upskilling 500 million people in the country by 2022, mainly by furthering private sector initiatives in skill development programmes and providing viability gap funding.
Month: Current Affairs - May, 2014