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Skill development: CCEA approves two World Bank-backed schemes

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Mains Paper 2: Governnance | Development processes and the development industry the role of NGOs, SHGs, various groups and associations, donors, charities, institutional and other stakeholders

From the UPSC perspective following things are important:

Prelims Level: Particulars of the Schemes

Mains Level: Latest example of World Bank assistance to India.


News

Approval of Schemes by the  Cabinet Committee on Economic Affairs(CCEA)

  1. The CCEA has approved two World Bank supported schemes of Rs 6,655 crore aimed at skill development in India
  2. The schemes are aimed to set up national bodies for accreditation and certification which shall regulate accreditation and certification in both long- and short-term Vocational Education and Training

Particulars of the Schemes

  1. Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) is a Rs 4,455-crore centrally sponsored scheme, including Rs 3,300 crore loan support from WB
  2. Skill Strengthening for Industrial Value Enhancement (STRIVE) is a Rs 2,200-crore central sector scheme, with half of the scheme outlay as WB loan assistance
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