Why in the News?

Skill Impact Bonds (SIB) were recently highlighted by the Skill Development Ministry.

About the Skill Impact Bond:

Launched: November 2021
Nature: India’s first Development Impact Bond (DIB) focused on employment-linked skill development
Lead Agency: National Skill Development Corporation (NSDC), under the Ministry of Skill Development and Entrepreneurship
Collaborators: British Asian Trust, HSBC India, Michael & Susan Dell Foundation
Target: Train and place 50,000 youth over 4 years, with 62% women participation

- Risk Investors: Provide upfront capital to training providers
- Training Providers: Deliver skill training and ensure job placements
- Outcome Funders: Repay investors only if job outcomes are achieved
- Evaluators: Independently assess outcomes via CATI surveys and document verification

Outcome-Focused Approach: Measures success by certification, placement, and 3-month retention, not just enrolment
Eligibility Criteria:
- Age: 18–40 years; Education: Undergraduate or below
- Status: Unemployed or earning below ₹15,000/month, or household income below ₹25,000/month
Sectoral Coverage: Retail, Healthcare, Apparel, Logistics, Information Technology & IT-enabled Services, Banking, Financial Services & Insurance.
Women-Focused Design: Ensures 62% female participation to bridge the gender employment gap

[UPSC 2018] With reference to Pradhan Mantri Kaushal Vikas Yojana, consider the following statements:

1. It is the flagship scheme of the Ministry of Labour and Employment.

2. It, among other things, will also impart training in soft skills, entrepreneurship, financial and digital literacy.

3. It aims to align the competencies of the unregulated workforce of the country to the National Skill Qualification Framework.

Which of the statements given above is/are correct?

Options: (a) 1 and 3 only (b) 2 only (c) 2 and 3 only* (d) 1, 2 and 3