National Skill Development Corporation (NSDC)

Objective

Being first of its kind Public Private partnership in India, the main objective of NSDC is to contribute efficiently by boosting up private sector initiatives in skill development programmes and by providing viability gap funding. It was established as a part of National Skill Development Mission to fulfill the growing demand of skilled manpower across various sectors.

Function and Management

It is a non-profit making company functioning under Ministry of Finance. the private sector holding in NSDC is 51% and the Government of India holds 49%. It comprises of a 12 member board and is managed by a term of professionals. The key functions of NSDC are: a) Funding and incentivising, b) Enabling support services.

The NSDC strives to develop low cost & high quality business models, attract significant private investment and building a strong corpus.

The NSDC provides services to the following sectors, which are as follows:

• Automobiles• Textile• Electronics• Construction• Food Processing• IT & Software • Media• Health Care• Education & Unorganised

Importance from examination point of view:i) Short Note -NSDCii) What is the objective of setting up of National Skill Development Corporation? Discuss in brief its role in socio-economic development in India.iii) Discuss the structure and functions of NSDC.

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