Skill Impact Bond by NSDC Trains Over 29,000 Job Seekers Across India
The National Skill Development Corporation (NSDC) has launched the Skill Impact Bond, which has successfully trained over 29,000 first-time job seekers in 24 states and union territories across 18 sectors. The program has seen 73% of its trainees join the workforce, with a significant focus on women, who make up 74% of those trained.
The initiative aims to equip 50,000 young Indians, with women accounting for 60% of the reach, by bridging the gap between skilling and employment. Independent verification shows that 70% of enrolled women and 81% of enrolled men secured jobs after training. Job retention rates are promising, with 56% of women and 62% of men staying in their jobs for at least three months.
Atul Kumar Tiwari, Secretary of the Ministry of Skill Development and Entrepreneurship, praised the program’s success, highlighting its focus on long-lasting impact and social responsibility. The Skill Impact Bond, launched in 2021 with a budget of USD 14.4 million, aims to achieve measurable outcomes in job placement and retention.
Ved Mani Tiwari, COO and Acting CEO of NSDC, emphasized the role of digitalization and AI-driven innovations in aligning with India’s economic vision for 2047, building a future-ready workforce.
Doubts Revealed
Skill Impact Bond -: A Skill Impact Bond is a special program that helps people learn new skills to get jobs. It is like a promise to train people and help them find work.
NSDC -: NSDC stands for National Skill Development Corporation. It is an organization in India that helps people learn new skills to get better jobs.
Job Seekers -: Job seekers are people who are looking for jobs. They want to find work so they can earn money and support themselves and their families.
Workforce -: The workforce is all the people who are working or are available to work. It includes everyone who has a job or is looking for one.
Independent verification -: Independent verification means checking something by someone who is not part of the program. It ensures that the information is true and accurate.
USD 14.4 million -: USD 14.4 million is a lot of money, about 120 crore rupees. It is the amount of money used to run the Skill Impact Bond program.
India’s economic vision for 2047 -: India’s economic vision for 2047 is a plan for how India wants its economy to grow by the year 2047. It includes ideas like using more technology and creating more jobs.
Digitalization -: Digitalization means using digital technology to do things. It includes using computers, the internet, and other tech tools to make work easier and faster.
AI innovations -: AI innovations are new ideas and tools that use Artificial Intelligence. AI is like a smart computer that can learn and make decisions, helping people do things better.
