Government’s Skill loan scheme

Government’s Skill loan scheme

Team Ambitiousbaba and AB are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “Government’s Skill loan scheme

The scheme loan scheme has benefited hardly 6,018 individuals with Rs 64.37 crore paid out in six years till October 31, 2021 as per the official statement of the ministry of skill development and entrepreneurship.

What is the skill loan scheme?

The Skill Loan Scheme was launched to give institutional credit to individual for skill development courses aligned to National Skill Qualification Framework (NSQF) by the ministry of skills development and entrepreneurship in 2015.

The purpose of the Skill Loan Scheme was to give loan amount from Rs 5,000 to Rs 1, 50,000 as the course has potential and has a repayment period of 3 to 7 years.

Policy Review

In a separate reply to the skills development ministry informed the Lok Sabha that the directing committee of National Skill Development Mission has proposed to undertake the review of National Policy for Skill Development and Entrepreneurship in its second meeting on June 29, 2021.

Alliance of global standards has always been a part of policies and guidelines of the Ministry of Skill Development and Entrepreneurship. All NSQF qualifications programmes and curriculum comprise credits to global standards wherever needed.

Migrant workers:

Amid the Covid-19 lockdown lakh of migrant laborers have returned to Madhya Pradesh, Uttar Pradesh and Rajasthan. The Ministry of Skill development said citing the data provided by the states for the implementation of Garib Kalyan Rojgar Abhiyaan (GKRA)that 3.2 million migrant workers returned to UP (Uttar Pradesh), 1.3 million to Rajasthan and 0.75 million to MP (Madhya Pradesh).

In support to the Garib Kalyan Rojgar Abhiyaan (GKRA) which is a special training programme, was carried out for reverse migrants impacted from COVID 19 under the short term training (STT) and recognition of prior learning (RPL) of central component of PMKVY 2.0 (2016-20).

This exceptional programme addressed 116 districts of six states which are Assam, Bihar, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh. There is placement opportunities are being supplied to STT certified candidates, while RPL does not mandate placements as it recognizes the existing skills of the candidate under Pradhan Mantri Kaushal Vikas Yojana.

Question & Answer:

Q1. In which year the Skill loan scheme was launched?

Ans. 2015

Q2. How much loan amount could be given for course under the skill loan scheme?

Ans. Rs.5000 to Rs.150000

Q3. Who is the union minister of the Ministry of Skill development and entrepreneurship?

Ans. Dharmendra Pradhan


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