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April 22, 2018

Youth need to develop entrepreneurial skills, urged to use Nirvana Fund by Ministry : Skills Minister Ananth Kumar Hegde

Karnataka : The ‘Skill on Wheels’ programme organized by the National Skill Development Corporation (NSDC) to provide information and guidance for youths on employment opportunities and entrepreneurial ventures, was held at the PES Institute of Technology and Management campus on Friday.

A large number of youths including those pursuing bachelor degree courses in engineering, applied sciences, humanities, and commerce streams and job-seekers attended. Interaction with successful entrepreneurs and sessions to provide information for youths on the slew of skill development training programmes launched by NSDC were held as part of the programme.

The programme also called ‘Skillathon’ was inaugurated by Union Minister of State for Skill Development and Entrepreneurship Anantkumar Hegde. Addressing the gathering, he stressed the need to develop entrepreneur skills among youths. The Ministry had set up Nirvana Fund for budding entrepreneurs, who don’t have access to capital necessary to launch their project. No interest would be charged if the loan is repaid within a year. In the second year, interest would be charged at the rate of 4% and the entrepreneur would have to pay 8% interest in the third year. Even if the business failed and the entrepreneur was not in the position to repay the money, refunding and necessary training to achieve success would be arranged. He called on youths to make use of the fund.

Mr. Hegde said to give impetus to its Skill India programme, the Central government had decided to form a separate cadre of officials titled Indian Skills Service (ISS). The recruitment for ISS will be done through Union Public Service Commission, he said.

Commenting on the dearth of skills among youths, he said though graduates are being churned out by education institutions, they are not able to find a suitable job.

On the other hand, the industry is facing dearth of workers with necessary skills. In many cases, youths who have excelled in academics are found to be poor in skills required by the industry. While pursuing formal academic course, youths should also get hands-on training on skills required by the industry, he said.

Leaders K.S. Eshwarappa, M.B. Bhanuprakash, and B.Y. Raghavendra, were present.

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