National Skill Development Corporation (NSDC)

National Skill Development Corporation Latest News

The National Skill Development Corporation (NSDC) recently announced 50 new future skills centres and 10 international academies as part of the expansion of its skilling footprint across India and advanced skill development and training programs.

About National Skill Development Corporation (NSDC)

• NSDC, established in 2009, is a not- for- profit company set up by the Ministry of Finance, under Section 25 of the Companies Act,1956.
• NSDC aims to promote skill development by catalyzing the creation of large, quality, and for-profit vocational institutions.
• NSDC provides funding to build scalable and profitable vocational training initiatives. 
• Its mandate is also to enable a support system which focuses on quality assurance, information systems, and train the trainer academies either directly or through partnerships.
• NSDC acts as a catalyst in skill development by providing funding to enterprises, companies, and organizations that provide skill training.
• It also develops appropriate models to enhance, support, and coordinate private sector initiatives. 
• The present equity base of NSDC is Rs. 10 Crore of which the government of India, through the Ministry of Skill Development & Entrepreneurship (MSDE), holds 49%, while the private sector holds the balance 51%.

National Skill Development Corporation FAQs

Q1. What are the objectives of the National skills Development Mission?

Ans. The National Skill Development Mission aims to create a skilled workforce, align skills with industry needs, expand training access, promote entrepreneurship, improve the quality of training, and ensure the integration of skill development with education.

Q2. Is the NSDC a statutory body?

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Ans. No, the National Skill Development Corporation (NSDC) is not a statutory body.

Q3. Who is the owner of the NSDC?

Ans. The National Skill Development Corporation (NSDC) is a public-private partnership (PPP), and its ownership is shared between the Government of India and private stakeholders.

Source: HT