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The government will directly transfer its contribution to the bank accounts of apprentices through the National Skill Development Corporation, an official statement said on Saturday.
The Ministry of Skill Development and Entrepreneurship announced that the National Apprenticeship Promotion Scheme (NAPS) will be a part of Direct Beneficiary Transfer (DBT) scheme.
Minister of Skill Development and Entrepreneurship Dharmendra Pradhan said the first set of apprentices have received stipend subsidy in their accounts through DBT under the NAPS.
"Earlier companies used to pay apprentices the entire amount and then seek reimbursement from the government. With the launch of the DBT scheme, the government will directly transfer its contribution to bank accounts of apprentices through National Skill Development Corporation (NSDC), 25 per cent of the stipend payable up to Rs 1,500 per month," the statement quoted him as saying.
The NAPS was launched on August 19, 2016, to promote apprenticeship training in the country and to provide financial support to establishments undertaking apprenticeship.
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The programme aims to motivate employers to hire apprentices and aid them in discovering the right job roles while maximising their potential through in-depth skill development.
As of today, more than 12 lakh apprentices have been engaged with various industries.
"The dream of India becoming the 'Skill Capital of the World' seems to be on the path to fruition with the introduction of various apprenticeship reforms aimed at building a skilled manpower. It is envisioned that these schemes will be further scaled up in the coming years and all contracts will be DBT contracts," the statement said.
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