Sign In
Learn bits
Economy, Schemes & Policies
Mahesh

30/06/22 12:54 PM IST

Scheme for Enhancement of Competitiveness in the Capital Goods Sector Phase II

In News 
  • The Ministry of Heavy Industries (MHI) and the Ministry of Skill Development and Entrepreneurship (MSDE) signed a Memorandum of Understanding (MoU) to create a collaborative ecosystem for imparting skill development training in the capital goods sector. 
About the Scheme 
  • The objective of Phase II of the Scheme is to expand and enlarge the impact created by the Phase I pilot scheme, thereby providing greater impetus through creation of a strong and globally competitive capital goods sector that contributes at least 25% to the manufacturing sector.
  • The scheme on ‘Enhancement of competitiveness in the Indian Capital Goods Sector’ was notified in November, 2014 to encourage technology development and infrastructure creation.
  • The scheme has a financial outlay of Rs. 1207 crores with Budgetary support of Rs.975 crore and Industry Contribution of Rs. 232 crore .
  • Under the scheme, to cater for futuristic industrial requirements, a new component for promotion of skilling in Capital Goods Sector through creation of Qualification Packs for Level 6 and above has been introduced. 
  • Under this initiative, MHI shall provide 100% funding support to MHI Sector Skill Councils (SSCs) for development of new Industry Led National Skills Qualifications Framework (NSQF) Level 6 and above Qualification Packs (QPs). 
Source- PIB 

More Related Current Affairs View All

20 Sep

Cabinet clears setting up of National Centre of Excellence in Mumbai for Animation, Visual Effects, Gaming, Comics and Extended Reality

'The Government has recently said that the Animation, Visual Effects, Gaming and Comic (AVGC) sector has the potential to provide employment to over 20 lakh people in the coming 10

Read More

20 Sep

Mini-moon

'According to a new study, the Earth’s gravitational field will temporarily capture a small asteroid, called 2024 PT5, in late September.' The asteroid will stay for two m

Read More

19 Sep

Cabinet clears development of Next Generation of satellite Launch Vehicle

'The Union Cabinet, led by Prime Minister Narendra Modi, has approved the development of the Next Generation Launch Vehicle (NGLV).' The NGLV is set to significantly enhance Ind

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps