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Our Bureau

Chennai, July 21 The Union Government will have 49 per cent stake in the National Skill Development Corporation, a not-for-profit organisation, to be set up for developing various industrial skills, according to the Union Finance Minister, Mr P. Chidambaram.

Speaking on the sidelines of a function organised to occasionalise the 25 years of existence of Apollo Hospitals Enterprise Ltd, Mr Chidambaram said that the Government would contribute Rs 1,000 crore to the equity of the Corporation.

The Corporation was a budget proposal, but the decision to set it up was formally taken by the Prime Minister’s Advisory Council on Skills Development.

It is estimated that the Corporation would need about Rs 15,000 crore funds to set up polytechnics, industrial training institutes and other technical institutes. The Government has identified ten industries, whose manpower needs would first be addressed by the Corporation.

Participating industries will be given equity stakes in the Corporation, he said.

Earlier, speaking at the function, the Finance Minister underscored the need for the private sector in providing healthcare to the country.

More Stories on : Human Resources | Medical Institutions & Hospitals | Employment

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