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CSR spend may cover skilling individuals

January 30, 2023

CSR spend may cover skilling individuals
The government is considering widening the scope of corporate social responsibility (CSR) spending to enable the corporates and institutions to fund skills training of individuals.

The Ministry of Skills Development and Entrepreneurship has proposed the ‘Gift a Skill’ concept to be linked with either the Reserve Bank of India’s digital currency e-Rupi or ‘skill voucher’ wherein individuals, corporate and institutions can sponsor skill development of another individual through skill vouchers, a senior government official said.

The enterprises will be incentivised to take up skills training of individuals as the government aims to scale up training of candidates to cater to the growing demand.

The government is also exploring the possibility of creating a ‘Skill Wallet’ to enable easier transactions for such CSR activity, the person said.

“The idea is to handhold CSR practices for corporates, streamline processes, and incentivise their participation through various means including, co-branding of their training programmes and utilising e-Rupi or skill voucher for CSR-based training,” the official said.

These proposals are being examined actively and a final call would be taken up shortly, the official added.

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