There is no Skill Development Programme Fund under the Ministry of Skill Development and Entrepreneurship however, there is a Trust namely National Skill Development Fund (NSDF) which was incorporated on 23.12.2008 as a trust under the Indian Trust Act, 1882 fully owned by the Government, to act as a receptacle for financial contributions from Governmental sources, bilateral/ multilateral and other agencies and other private sector donors who would prefer to provide funds through the Government. NSDF meets its objectives through National Skill Development Corporation (NSDC) which is an industry led Company registered as a Not for Profit Company under section 25 of the Companies Act, 1956 setup for building skill development capacity and forging strong linkages with the market.
Ministry of Skill Development and Entrepreneurship through National Skill Development Corporation had implemented Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 2015-16 with the objective to enable a large number of Indian youth to take up industry-relevant short duration skill training. About Rs.1335 Crore had been released to NSDC from NSDF for implementing the scheme in the country. Under this scheme, 19.85 Lakh candidates had been trained in 375 job roles. Under PMKVY 2015-16, it was not mandatory for NSDC’s training partners to report employment data. The employment data available reflects only a fraction of the actual employment provided under the scheme. Out of the total trained candidates, around 2.62 lakh candidates have been reported as placed.
Further, Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to skill one crore people over the four years (2016-2020) with an outlay of Rs.12,000 crore is also being implemented by the Ministry. Under PMKVY 2016-20, the skill development training is running with accelerated pace with an objective to provide skilling under Short Term Training (STT), Recognition of Prior Learning (RPL) and Special Project (SP) across the country. Under PMKVY 2016-20, as on 24.01.2019, 37.32 lakh (appx.) candidates have been trained under STT (25.25 lakh), RPL (11.27 lakh) and Special Project (0.8 lakh) in the country.
Under tripartite Corporate Social Responsibility (CSR) Agreements, various Public Sector Undertakings (PSUs), private sector donors provide funds to NSDC through NSDF for implementation of CSR Skill Development Projects. Since inception, 27571 youth have been placed under the CSR projects with various employers across the country that is inclusive of self and wage employment. The growth in the numbers, over the years, has been gradual and steep because of the increase in number of funders who have shown interest in spending their CSR fund in skill initiatives in this span of time; and the number of project renewals that has happened in the last two years. Moreover, around 40000 beneficiaries have been certified under Corporate funded Recognition of Prior Learning (RPL) of workers and contract workers, especially under Mining sector.