Skill de­vel­op­ment can sup­port eco­nomic growth

Electrical Monitor - - BUDGET REACTIONS -

hile the ma­jor high­light of the bud­get was the big push on agri­cul­ture and ru­ral In­dia, the Fi­nance Min­is­ter has also recog­nised the im­por­tant role played by good qual­ity in­fra­struc­ture and skill de­vel­op­ment in sup­port­ing eco­nomic growth and In­dia’s over­all de­vel­op­ment.

The plan of ‘Make in In­dia’ can get de­railed with­out ad­e­quate sup­ply of top-notch man­power, there­fore an al­lo­ca­tion of Rs.1,804 has been made to­wards skill de­vel­op­ment. It fur­ther an­nounced plans to set-up 1500 multi-skill train­ing in­sti­tutes, and tie-up with in­dus­try and academia for the cre­ation of Na­tional Board for Skill De­vel­op­ment Cer­ti­fi­ca­tion. The ini­tia­tive to al­ter cus­toms and ex­cise duty rates on cer­tain in­puts to re­duce lo­cal man­u­fac­tur­ing costs and in­crease com­pet­i­tive­ness of do­mes­tic in­dus­try is def­i­nitely a pos­i­tive move.

— Dr. Michael Thie­mann, CEO Thyssenkrupp, In­dia

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