Newsletter Policy

WF Policy Developments Update: January Edition

Policy Newsletter
This newsletter aims to capture developments in the policy space, with a special focus on Skill Development and Entrepreneurship

Skill Development and jobs

  • DIPP in collaboration with MSDE and KPMG released the Skill Development Sector report which lists down the various policy initiatives and achievements of the sector. The report can be accessed here
  • The Prime Minister launches the National Apprenticeship Promotion Scheme (NAPS) in Kanpur.
    • The scheme has an outlay of Rs 10000 crore and it involves incentivizing employers in sharing 25% of total cost of stipend paid to the apprentices.Read in detail
  • The Prime Minister unveils first ever Indian Institute of Skills of India at Kanpur. Inspired by the Singapore model of training, MSDE in partnership with Singapore’s Institute of Technical Education has decided to open six such institutes across the country. Read more
  • MSDE issues notification for setting up of Indian Skill Development Services (ISDS). It is an attempt to attract young and talented administrators for Skill Development. Read more
  • MSDE launches the Pradhan Mantri YUVA Yojana, MSDE’s flagship scheme on entrepreneurship education and training. The scheme spans over five years (2016-17 to 2020-21) with a project cost of Rs. 499.94 crore, and will provide entrepreneurship education and training to over 7 lakh students in 5 years through 3050 Institutes. Read in detail
  • The Government plans to implement the National Career Service (NCS) Project for transforming the National Employment Service.
    • The aim is to provide a variety of employment related services like job matching, career counseling, vocational guidance, information on skill development courses, etc. which are currently offered through the Employment Exchanges. Read in detail

Entrepreneurship

  • DIPP launches the “Startup India Status report.” The report can be accessed here
    • Against the backdrop of government’s narrative, a particularly insightful analysis about the actual progress (by Livemint) can be found here.
    • Other updates from the Startup Policy go as follows:
      • Fund of Funds for Startups:  `129 crore committed by SIDBI to Venture Funds.
      • Notification issued by RBI allowing Foreign VCs to invest in equity or equity linked or debt instrument issued by an Indian startup without RBI approval.
      • Notification issued for Relaxed Norms of Procurement in Government Departments and CPSUs.
      • Funds for 10 Startup Centers released and 9 Technology Business Incubators approved.
      • Establishment of Atal Tinkering Labs: NITI Aayog has announced a list of 257 schools.
  • The Commerce and Industry Minister, Smt. Nirmala Sitharaman, meets with various incubators and accelerators to get feedback, hear their concerns and address key challenges faced by them in the Startup ecosystem. Click here to read the key points of discussion