WB provides Fund for Skill Development
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WB provides Fund for Skill Development

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World-BankThe World Bank has funded the Vocational Training Improvement Project, ‘Upgradation of 400 Government Industrial Training Institutes (ITIs)’ across the country, informed Rajiv Pratap Rudy, Minister of State (Independent Charge) for Skill Development and Entrepreneurship.

The scheme includes enhancement of knowledge and skills of ITI instructors, strengthening facilities in 14 central institutes, strengthening curriculum development, reforms, and capacity building. Under the project, the key institutional reforms introduced are constitution of Institute Management Committee (IMC) at ITI level with the chairmanship from the industry.

Till September 2015, Rs 1605 crore has been utilised under the schemes, out of which 83 per cent has been disbursed by the World Bank. Since the scheme started in December 2007, around 70,000 trainees are trained annually. The closing date of the scheme is September, 2016.

The Minister further said that National Skill Development Agency has not made any estimate of funds required for meeting the target fixed for skill development. However, in order to understand the sectoral and geographical spread of skill requirement/gaps and incremental human resource requirement across the sectors, studies have been undertaken by the Government through National Skill Development Corporation (NSDC), a Public Private Partnership (PPP) entity.

As per the study, employment opportunities in India would increase from 461.1 million in 2013 to 581.9 million in 2022, across the 24 sectors, pointing at an incremental human resource requirement of approximately 120.8 million. Considering the overlap in the human resource requirement across a number of sectors, the unique number for incremental demand would be 109.7 million by 2022, wherein the top 10 sectors would account for 80 per cent of this requirement.

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