The Cabinet Committee on Economic Affairs has approved two new World Bank supported schemes Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) and Skill Strengthening for Industrial Value Enhancement (STRIVE).
- SANKALP is a Centrally sponsored scheme including Rs. 3,300 crore loan support from World Bank
- STRIVE is a central sector scheme, with half of the scheme outlay as World bank loan assistance.
- These schemes are aimed at institutional reforms and improving quality & market relevance of skill development training programs in long and short term VET.
- These schemes will develop a robust mechanism for delivering quality skill development training by strengthening institutions such as State Skill Development Missions (SSDMs), National Skill Development Corporation (NSDC), Sector Skill Councils (SSCs), ITIs and National Skill Development Agency (NSDA) etc.
- SANKALP envisages setting up of Trainers and Assessors academies with self-sustainable models.
- The schemes will develop a skilling ecosystem that will support the country's rise in the Ease of Doing Business index by steady supply of skilled workforce to the industry.
- The schemes will also work towards increasing the aspirational value of skill development programs by increasing the marketability of skills, through better industry connect and quality assurance.
