Madhya Pradesh is making headlines as it unveils a game-changing initiative to tackle the rising problem of unemployment in India. The state has recently launched the country’s first Human Capital Bank in Shujalpur, where 10th pass youths in the age group of 18 to 35 will receive comprehensive training followed by guaranteed jobs. The bank operates on the concept of a traditional bank, with skilled individuals being given training to fill future job vacancies across the country.
The State Open School Board, in collaboration with the Central Government’s Green Job Council and Handicraft and Carpet Council, has initiated the project. The board has also partnered with public sector banks to ensure the success of the program. To enroll in this center, data has been sought from schools and local public representatives regarding 10th pass youths between the ages of 18 and 35. The project is being managed by the MPCON, which serves as the nodal agency for training.
1. Unique Features of the Human Capital Bank:
The Shujalpur center offers an impressive range of training programs designed to empower the youth with the necessary skills for various industries. Here are some of the exciting features of the Human Capital Bank:
2. Training in Handicrafts and Carpentry:
The center will provide training in handicrafts and carpentry, enabling the youth to make products such as hangers, drinking water bottles, furniture, and more from bamboo. Additionally, one handloom and three paddle looms have been installed in the center, where students will learn to make and design clothes.
3. Sales and Marketing of Green Energy Products:
Trained youth will be appointed as salesman technicians in every village to install 10 kW solar panels, and also sell LED bulbs. They will also be responsible for operating the charging stations for electric vehicles. The trained youth will do school duty and will receive a loan from the bank for the same, with the board taking a guarantee for the loan.
4. Pottery and Clay Art:
The center will provide training in creating unique clay products, showpieces, pots, piggy banks, and more, nurturing the youth’s creativity and artistic skills.
The Human Capital Index:
The United Nations defines the Human Capital Index as a composite index measuring the amount of human capital that a child born today can expect to attain by age 18. The Index includes child mortality and primary education and is a key parameter for assessing the development of a country.
Changing the Perception of the Working Unemployed Population:
The Human Capital Bank project is a transformative initiative that views the working unemployed population as a valuable asset rather than a burden. It aims to change the approach towards this demographic by considering them as Manav Dhan, or Human Capital, and investing in their skills to create a brighter future.
The Future of Skilled Training in India:
With over 62% of the Indian population in the age group of 15 to 59 years, the Human Capital Bank is set to revolutionize the job market by providing the youth with essential skills and guaranteed jobs. The project aims to bridge the gap in the Indian screen force, which currently stands at 5.4%, compared to 96% in South Korea and 52% in the United States.
In conclusion, the launch of the Human Capital Bank is a bold and innovative step towards building a skilled and employable workforce in India. With its comprehensive training programs and job guarantee, the initiative promises to transform lives and drive economic growth across the country.
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