On February 1, 2022, Finance Minister Nirmala Sitharaman announced to set up “DESH-Stack e-portal”, during Budget 2022 speech.
Announcement to set up a DESH-Stack online skilling platform and overall focus of Budget on skilling is drawing appreciation from industry, because stakeholders have been highlighting widening skill gap across job market.
DESH stands for “Digital Ecosystem for Skilling and Livelihood”. This portal will be launched for empowering citizens to skill, upskill or re-skill through online training. It will also provide API-based trusted skill credentials, discovery layers and payment to find entrepreneurial opportunities and relevant jobs. The portal will be aligned with industry requirements and help in improving and strengthening education and skill ecosystem in India.
Significance of e-portal
The world-class Digital University and DESH-Stack e-portal will be set up for upskilling, reskilling and cross-skilling. This move will place India as a global hub for talent. This portal will act as a central database of learners signing up for vocational skills and certifications. It will help in creating a continuous learning path for each learner.
Other announcements for skilling
Other key-announcement by government include:
- Allowing world-class foreign universities and institutions in GIFT City (Gujarat International Finance Tec-City), in a bid to offer courses in Financial Management, Science, Technology, FinTech, Mathematics and Engineering.
- Institutions will be free from domestic regulations. They will only be regulated by IFSCA, for facilitating availability of high-end human resources in financial services and technology.
Gujarat International Finance Tec-City (GIFT City)
GIFT City is an under-construction central business district. It is being constructed in Gandhinagar, Gujarat. It is the first operational greenfield smart city and international financial services centre in India. It is located on the banks of River Sabarmati. It is located at around 12 km from Sardar Vallabhbhai Patel International Airport.
Category: Economy & Banking Current Affairs - 2024