National Skill Development Corporation (NSDC) is a Public Private Partnership Company set up as part of a National Skill Development Mission to fulfill the growing need in India for skilled manpower across sectors and narrow the existing gap between the demand and supply of skills. NSDC provides funding to build scalable, vocational training initiatives. Its mandate is also to enable support systems such as quality assurance, information systems and train the trainer academies either directly or through partnerships. NSDC acts as a catalyst in skill development by providing funding to enterprises, companies and organizations that provide skill training. There is no proposal of the Government to close the NSDC.
Under Skill India Mission, Ministry of Skill Development and Entrepreneurship is implementing a flagship scheme known as Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 2016-20 with an objective to provide skilling to one crore people under Short Term Training (STT), Recognition of Prior Learning (RPL) and Special Project (SP) across the country for four years i.e. 2016-2020 with an outlay of Rs.12,000 crore.
During FY 2017-18, the target allocation under PMKVY 2016-20 was temporarily put on hold in few States/Sectors due to aberration caused by crossing State / Sectoral ceiling of target. Currently, under the scheme, NSDC as an implementing agency is allocating the targets based on past performance of TCs, Request for Proposal (RFP) mode, MoUs, etc.
For the implementation of PMKVY 2016-20, Ministry of Skill Development and Entrepreneurship, as on 24.01.2019, has disbursed / sanctioned funds amounting to Rs. 3,897.56 crore to implementing agencies for further disbursement to training providers as per laid down guidelines and Common Norms.