Business

Centre okays scheme for apprenticeship training

The scheme will provide financial incentives to employers to engage apprentices.

The Centre approved an outlay of Rs.10,000 crore towards a scheme to provide apprenticeship training to 50 lakh youth by 2020.

The approved National Apprenticeship Promotion Scheme will provide financial incentives to employers to engage apprentices. Under the scheme, the Ministry of Skill Development and Entrepreneurship will share 25 per cent of the total stipend payable to an apprentice with employers. The government will also fund 50 per cent of the total expenditure incurred by the employer in providing basis training to apprentices.

“The scheme will catalyse the entire apprenticeship ecosystem in the country and it will offer a win-win situation for all stakeholders. It is expected to become one of the most powerful skill-delivery vehicles in the country,” according to a statement from the Ministry.

Some analysts felt financial incentives were only a miniscule component of the entire scheme of things that needed to be addressed to encourage apprenticeship training. “While some of the drawbacks related to conceptualisation of scheme were addressed through amendments in the Apprentices Act it still hasn’t translated into volumes,” said Rituparna Chakraborty, Co-Founder and Executive Vice President, Teamlease Services Limited.

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Printable version | May 26, 2020 5:34:46 AM | https://www.thehindu.com/business/Centre-okays-scheme-for-apprenticeship-training/article14472888.ece

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