Explanation:

 The Cabinet Committee on Economic Affairs has approved two new World Bank supported schemes - Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) and Skill Strengthening for Industrial Value Enhancement (STRIVE). Highlights of the Schemes

• These are outcome focused projects marking a shift in government’s implementation strategy in vocational education and training from inputs to results.
• SANKALP, a centrally sponsored scheme (funded directly by Central Ministries and implemented by States or their agencies), addresses this need by setting up national bodies for accreditation and certification. The bodies shall regulate assessment and certification in both long and short term  vocational education and training (VET).
• STRIVE, a central sector scheme (funded and implemented by the Central Government machinery), aims to modernize 500+ ITIs through outcomes and reform linked funding.
• The schemes aim to strengthen institutions such as State Skill Development Missions (SSDMs), National Skill Development Corporation (NSDC), Sector Skill Councils (SSCs), ITIs and National Skill Development Agency (NSDA) etc. and ensure greater decentralization in skill planning. 
• They support universalization of National Skills Qualification Framework (NSQF) including National Quality Assurance Framework (NQAF) across the skill development schemes of central and state output.