Explanation:

Both statements are correct.

National Skill Development Corporation (NSDC) is a not-for-profit public limited company incorporated on July 31, 2008 under section 25 of the Companies Act, 1956 (corresponding to section 8 of the Companies Act, 2013). NSDC was set up by Ministry of Finance as Public Private Partnership (PPP) model. The Government of India through Ministry of Skill Development & Entrepreneurship (MSDE) holds 49% of the share capital of NSDC, while the private sector has the balance 51% of the share capital.

Swarnajayanti Gram Swarozgar Yojana (SGSY) was enacted in the dawn of the financial year of 1999-2000 as a replacement of six other affiliated schemes. The initiative was designed as an integrated program that caters to the self-employment of the rural poor. It is funded by the Centre and the State in a 75:25 ratio and is implemented by commercial banks, regional banks and cooperative banks. Other financial institutions, Panchayat Raj institutions, District Rural Development Agencies (DRDAs), Non-Government Organizations (NGOs), and technical institutions in the district will also undertake the process of planning, implementing and monitoring the scheme. This article seeks to create awareness of this self-employment scheme.