Skill development: CCEA approves two World Bank-backed schemes

Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) is a Rs 4,455-crore centrally sponsored scheme, including Rs 3,300 crore loan support from World Bank.

By: Express News Service | New Delhi | Published:October 12, 2017 1:50 am
World Bank, skill India, Narendra Modi, PM Modi, Skill India schemes, Cabinet Committee on Economic Affairs, World bank, indian economy, business news, Indian express Skill Strengthening for Industrial Value Enhancement (STRIVE) is a Rs 2,200-crore central sector scheme.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved two World Bank supported schemes of Rs 6,655 crore aimed at skill development in the country.

Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) is a Rs 4,455-crore centrally sponsored scheme, including Rs 3,300 crore loan support from World Bank, while Skill Strengthening for Industrial Value Enhancement (STRIVE) is a Rs 2,200-crore central sector scheme, with half of the scheme outlay as World bank loan assistance. SANKALP and STRIVE are outcome-focused schemes marking shift in the government’s implementation strategy in vocational education and training from inputs to results.

“This is a very important initiative in developing the country’s skill development ecosystem,” Union law minister Ravi Shankar Prasad said after the Cabinet meeting Wednesday. The schemes are aimed to set up national bodies for accreditation and certification which shall regulate accreditation and certification in both long- and short-term Vocational Education and Training. “The architecture shall help, for the first time, in the history of vocational education in India,” a government statement said.

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