Government redesigning loan scheme for skills development

NEW DELHI: The government today said it is redesigning the Model Skill Loan Scheme to simplify the process of giving loans for skills development.

"The Ministry of Skill Development and Entrepreneurship in association with the Department of Financial Services is redesigning a simple Model Skill Loan Scheme which includes simplification of form and process for sanctioning loans, digital vouchers, etc," Skills Minister Rajiv Pratap Rudy said in a written reply in the Lok Sabha.

Replying to a separate query, her said the government has moved the training and apprentice divisions of the labour ministry to the Skill Development and Entrepreneurship Ministry.

"The two verticals -- Deputy Director General (Training) and Deputy Director General (Apprenticeship Training) looking after the work related to Industrial Training Institutes (ITIs) and apprenticeship training , etc., have been transferred from Ministry of Labour and Employment to Ministry of Skill Development and Entrepreneurship," Rudy said.

He also informed that the Cabinet Secretariat took a decision in this regard on April 16.

The move empowers the Skill Ministry as it brings over 11,000 industrial training institutes (ITIs), scores of other institutions, and the apprentice and training divisions, under it.