Government will transfer benefits to apprentice accounts through Skill Development Corp

The government will transfer its contribution directly to apprentices’ bank accounts through the National Skill Development Corporation, an official statement said on Saturday.

The Ministry of Skills Development and Entrepreneurship has announced that the National Apprenticeship Promotion Scheme (NAPS) will be part of the Direct Beneficiary Transfer Scheme (DBT).

Skills Development and Entrepreneurship Minister Dharmendra Pradhan said the first batch of apprentices had received a stipend grant in their accounts through DBT under the NAPS.

“Previously, companies would pay apprentices the full amount and then seek reimbursement from the government. With the launch of the DBT scheme, the government will transfer its contribution directly to apprentices’ bank accounts through the National Skill Development Corporation ( NSDC), 25% of the allowance payable up to Rs 1,500 per month,” he said in the statement.

The NAPS was launched on August 19, 2016 to promote apprenticeship training in the country and provide financial support to institutions undertaking apprenticeships.

The program aims to motivate employers to hire apprentices and help them discover the right roles while maximizing their potential through in-depth skills development.

To date, more than 12 lakh apprentices have been engaged in various industries.

“India’s dream of becoming the ‘skills capital of the world’ seems to be on its way to being realized with the introduction of various apprenticeship reforms aimed at building a skilled workforce. It is expected that these programs be further strengthened in the coming years and all contracts will be DBT contracts,” the statement read.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

About Barbara J. Ross

Check Also

HVAC Market Size 2022 with Industry Development Scenario

2022-2032 HVAC Industry Scope | overviewSLICE HVAC Market research by insightSLICE offers insightful findings on …