Technical Skill Enhancement Programs

For those individuals lacking sufficient education and training, the job market is a daunting place. Wage growth for those without a college education is weak and, increasingly, individuals and households are holding two jobs at once to make ends meet. Education, training and re-training have become all-important for those entering the job market and for those already in the workforce.

We have just witnessed a historic moment when Goods and Service Tax (GST) was launched in the midnight session of Parliament on 1st July 2017. GST rollout is a massive step in bringing in One-Nation, One-Tax regime. Post roll-out, there will be a high demand for many professionals with knowledge and skills in GST implementation. Hence, there is a need to complement GST implementation with appropriate training and skill development in relevant industry sectors.

In fact, some of the renowned staffing agencies have predicted an annual growth to the tune of 10-13% in the formal job creation because of GST. As per market sources, sector-wise, the immediate high impact segments of this regime are expected to be e-commerce, BFSI, Consumer durables, auto sector, media and entertainment, hospitality, pharmaceutical and telecom. Of course, criticality remains on infrastructure and achieving transition mitigation modalities in time.

As per government notification under title Service Tax Exemptions to be continued in GST as decided by GST Council confirms –

Any services provided by (i) the National Skill Development Corporation set up by the Government of India; (ii) a Sector Skill Council approved by the National Skill Development Corporation; (iii) an assessment agency approved by the Sector Skill Council or the National Skill Development Corporation; (iv) a training partner approved by the National Skill Development Corporation or the Sector Skill Council in relation to

  • the National Skill Development Programme implemented by the National Skill Development Corporation; or
  • a vocational skill development course under the National Skill Certification and Monetary Reward Scheme; or
  • any other Scheme implemented by the National Skill Development Corporation.

This means government’s key focus on Skill India mission will further boost vocational education and training under this new regime to create more skilled work force. It’ll be a great opportunity for Training Partners to create short term certificate programs under BFSI category on GST to attract young people to enroll, get skilled on GST which has a good employment potential as mentioned above.