NEW DELHI: The Union Cabinet has approved setting up of an overarching regulatory body , National Council for Vocational Education and Training (NCVET), to regulate the functioning of several entities responsible for skill training The National Council for Vocational Training ( NCVT ) and the National Skill Development Agency (NSDA), the two existing institutions under the Ministry of Skill Development and Entrepreneurship, will be merged to form NCVET. The council would be headed by a chairperson and would have executive and non-executive members.Several new posts would be created for its smooth functioning.“NCVET will regulate the functioning of entities engaged in vocational education and training, both long-term and short-term, and establish minimum standards for the functioning of such entities,” a government statement issued after the cabinet meeting said.The government is of the view that setting up a regulator in the skills sector will lead to improvement in quality and market relevance of skill development programmes, lend credibility to vocational education and training, besides encouraging greater private investment and employer participation in the skills space.“This in turn will help achieve the twin objectives of enhancing aspirational value of vocational education and of increasing skilled manpower furthering the Prime Minister's agenda of making India the skill capital of the world,” the government said.