Corporate Social Responsibility (CSR) Expend May Cover Skilling Individuals

Corporate Social Responsibility (CSR) Expend May Cover Skilling Individuals

To enable the corporates and institutions to fund skills and training of the individuals the government is planning to widen the scope of corporate social responsibility (CSR) spending.

A senior government official stated that the Ministry of Skills Development and entrepreneurship has put forward the concept called ‘Gift of Skill’ which will be linked with either the Reserve Bank of India’s digital currency e- Rupi or ‘skill voucher’ in which corporate, institution and individuals can sponsor skill development of another individual via skill vouchers.

The organisations will be incentivised to take up skills training of individuals because the government's goal is to ratchet up training of candidates in order to cater the growing demand.

The concerned person stated that the government is also exploring the prospect of creating a ‘Skill Wallet’ to enable easier transactions for such CSR activity. 

According to an official, the plan is to handhold practices of corporate social responsibility (CSR) for streamline processes, corporates, and incentivise their participation via several means inclusive of co- branding of their training programs and utilising e- Rupi or skill voucher for CSR– based training. These prospects are actively examined and shortly a final call would be taken.

As per the official the focal point of the proposed corporate social responsibility (CSR) backed training will be on green jobs arising sectors inclusive of solid and liquid waste management, electric vehicles and renewables.

The official stated that, for this, the ministry will take on mapping exercises across key sectors and then combine the requirements with education, re- skilling and skilling. This will aid in estimation of job losses in traditional sectors and demand for skilled professionals across arising sectors. 

The ministry of skills development and entrepreneurship goal is to impart 100% skills training to the projected labour force of India by 2047 and is therefore looking for greater participation of the private sector, as part of its Vision 2047.

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