Union Finance Minister Pranab Mukherjee on Tuesday launched the National Skill Development Corporation (NSDC), a unique PPP (public-private partnership) enterprise which has been mandated to skill 30 per cent of the overall target of 500 million people by the year 2022. Incorporated as a not-for-profit organisation by the Union Finance Ministry under Sec. 25 of the Companies Act, 1956, the NSDC has been formed as a 51:49 shareholding venture between the private sector and the government, with contributions from all prominent industry bodies to its initial capital.
In his address to mark the formal launch of the NSDC at a function here, Mr. Mukherjee noted that the novel experiment had taken firm roots.
