National Skill Development Fund (NSDF) and National Skill Development Corporation (NSDC) are the two MoU’S signed by National Thermal Power Corporation (NTPC) for skill development training. NTPC will fund these projects and executed by NSDC through its Training Partners.
• There are over 70 skill development schemes across various sectors implemented by over 20 Central Ministries/Departments for various skill development/entrepreneurship programmes for both the organized and unorganized sectors.
- The first MoU was signed to provide skill training to 5000 youth and women across 22 locations with special focus on the eastern states/ part of the country where NTPC power plants are located.
- The first MoU project cost is Rs 6.5 Crore and the time period is two years.
- The second MoU was signed to train 25000 candidates in services and manufacturing sectors across under-served locations in Bihar.
- The second MoU project cost is Rs 30 crore and the time period is five years.
• NTPC Limited (National Thermal Power Corporation Limited) is an Indian Central Public Sector Undertaking (CPSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.
• The headquarters of the company is situated at New Delhi.
• NTPC’s core business is generation and sale of electricity to state-owned power distribution companies and State Electricity Boards in India.
• It is the largest power company in India with an electric power generating capacity of 43,803 MW.
National Skill Development Fund:
• The National Skill Development Fund was set up in 2009 by the Government of India for raising funds both from Government and Non Government sectors for skill development in the country.
• A public Trust set up by the Government of India is the custodian of the Fund.
• The Fund is operated and managed by the Board of Trustees. The Chief Executive Officer of the Trust is responsible for day-to-day administration and management of the Trust.
• The Fund meets its objectives through National Skill Development Corporation (NSDC) which is an industry led ‘Not For Profit Company’ set up for building skill development capacity and forging strong linkages with the market.
National Skill Development Corporation:
• National Skill Development Corporation (NSDC), a non-profit company under the Companies Act, 1956.
• The corporation is being funded by trust “National Skill Development Fund” to which the Government has contributed a sum of Rs.995.10 crores.
• The objective of NSDC is to fulfill the growing need for skilled manpower in the country, mainly by fostering private sector initiatives in skill development.
The salient features of NSDC are:
• Upgrade skills of work force through significant industry involvement especially for underprivileged sections of society and backward regions of the country.
• Enhance, support and coordinate private sector initiatives for skill development through Public-Private Partnership (PPP) models.
• Prioritize initiatives that can have a multiplier or catalytic effect.