Shashi Kumar Singh, President, AIRIA and Chairman, RCPSDC, along with Saif Mohammad, CEO, RCPSDC met honorable Jayant Choudhary, Minister of State (I/C) for the Ministry of Skill Development and Entrepreneurship (MSDE) & Minister of State for the Ministry of Education, at Kaushal Bhawan in New Delhi recently. Mr. Singh was attending a pivotal event in New Delhi at which focused on the revamped Model Skill Loan Scheme.

Both Mr. Singh and the Minister were insightful and encouraging and highlighted the government's unwavering commitment to advancing skill development across India. The minister shared his vision of the government and industry to make skill development a cornerstone of India's growth story. Mr. Singh reiterated the importance of collaboration between industry, government, and educational institutions to foster a culture of continuous learning and upskilling. He expressed his gratitude to the MSDE for its proactive approach in supporting skilling initiatives and underscored the need for ongoing dialogue to address.

Revamped Model Skill Loan Scheme

The event marked the introduction of the government's revised Model Skill Loan Scheme, which has been significantly enhanced to improve accessibility to skill development courses. This revamped Scheme, which was first launched in 2015 but saw limited success, now offers a substantially increased maximum loan, rising from Rs. 1.5 lakh to Rs. 7.5 lakh. The initial version of the scheme struggled with low uptake, primarily due to insufficient loan limits that did not cover the high fees associated with many skill development courses.

Minister Choudhary emphasized the importance of the Model Skill Loan in bridging the gap between education and employability. He expressed confidence that the scheme would play a crucial role in equipping India's youth with the necessary skills to thrive in the evolving job