Modi has created a ministry for skill development and entrepreneurship headed by Sarbananda Sonowal. He has been made the Minister of State for Skill Development and Entrepreneurship (Independent Charge).
Prime Minister Narendra Modi has created a ministry for skill development and entrepreneurship headed by Sarbananda Sonowal. He has been made the Minister of State for Skill Development and Entrepreneurship (Independent Charge).
While various departments and agencies earlier have been tasked with development of entrepreneurship in the country, this would be the first time a minister has been tasked with the responsibility.
Under the UPA government, the Ministry of Micro, Small & Medium Enterprises (MSME) did some work around entrepreneurship, while the likes of National Skill Development Agency were involved in skill development.
According to an NSDC survey of the skills gap, industry at the height of the recession in 2009-2010 said over the next 12 years they need 240 million people just to maintain the current growth rate. The entire education system only produces about 12 million graduates and another 4.3 million people who come out of the education system as skilled people in a year.
These numbers are woefully short for the Modi government to achieve higher growth rate. There is also a problem when it comes to the quality of people graduating as the industry finds a lot of people who are passing out of the system cannot be employed.
India has a target of skilling/upskilling 500 million people in India by 2022, mainly by fostering private sector initiatives in skill development programmes and providing viability gap funding.
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