Skill development received a boost from finance minister Pranab Mukherjee with the allocation of Rs. 1,000 crore to the National Skill Development Fund for 2012-13.
The impetus would enable the National Skill Development Foundation take up more projects. In 2011-12, the National Skill Development Corporation (NSDC) approved 26 new projects, doubling the projects sanctioned since 2009 to 52, with a total funding commitment of Rs. 1,205 crore. In 10 years, these projects are expected to train 6.2 crore people and augment vocational training capacity by 1.25 crore per year.
The finance minister proposed a separate credit guarantee fund to improve institutional credit for youth.
Till now, NSDC partners opened 496 permanent and 2,429 mobile centres in 220 districts across 24 states. More than 89,500 people have been trained and almost 80% employed.
The Centre is also running "Himayat" with the aim of training 1 lakh youth in J&K and finding jobs for them in the next five years.