Page 2 - Union Cabinet

Cash-strapped states pulled out of flagship PMFBY, says Centre

Centre willing to make additional pro-farmer changes in response to climate change

Explained: What is 'loss and damage' fund, what is India's take on it

Agreement on financing one of the most significant steps in UN climate talks in 30 years

Govt raises PSB CEO term to 10 years, seeks younger talent at the top

A candidate can be appointed for 5 years initially, extendable for another five years; this is also applicable for executive directors who are also wholetime directors

Centre likely to raise authorised fund in NSFDC by Rs 1,000 crore

The Department of Social Justice, the nodal authority, has floated a draft cabinet note for inter-ministerial consultation

Cabinet okays subsidy for phosphatic, potassic fertilisers for rabi season

The Union Cabinet on Wednesday approved the proposal of the department of fertilizers for per kilogram rates of nutrient-based subsidy (NBS) for various nutrients for rabi season 2022-23, starting from October 1, 2022, to March 3, 2023.These nutrients are nitrogen (N), phosphorus (P), potash (K) and sulphar (S) for phosphatic and potassic (P & K) fertilisers.An official release said that subsidy approved by Cabinet for the nutrient-based subsidy (NBS) Rabi-2022 will be Rs 51,875 crore including support for indigenous fertiliser (SSP) through freight subsidy.It said this would enable the smooth availability of all P & K fertilisers to the farmers during Rabi 2022-23 at the subsidised prices of fertilisers and support the agriculture sector. The volatility in the international prices of fertilisers and raw materials has been primarily absorbed by the government, the release said.It said the government is making available fertilisers - urea and 25 grades for P & K ...

Cabinet hikes ethanol prices, approves subsidy for non-urea fertilisers

The industry has on several occasions told the government the price of ethanol produced from sugar juice or syrup should be based on returns on equity

Cabinet approves payment of productivity linked bonus to railway employees

In what can be termed as a Diwali bonanza for lakhs of railway employees, the Union Cabinet approved payment of productivity linked bonus equivalent to 78 days to them for financial year 2021-22

Centre approves development of a container terminal in Kandla Port

With the container terminal, the Centre intends to make Kandla Port competitive against its private peers, which have been growing at a rapid pace, especially since the pandemic

Govt okays Rs 22,000 crore one-time grant for OMCs to battle losses

This will help them tide over continuing losses in providing domestic liquified petroleum gas

Cabinet approves Rs 6,600 crore scheme 'PM-DevINE' for North-Eastern states

Prime Minister's Development Initiative for North East Region (PM-DevINE), a Rs 6,600 crore scheme to support infrastructure, industries and other livelihood projects in the Northeastern states, was approved on Wednesday by the Union Cabinet, chaired by Prime Minister Narendra Modi. The new scheme, to be implemented during the remaining four years of the 15th Finance Commission from 2022-23 to 2025-26, is a 100 per cent Central government-funded plan and will be administered by the Ministry of Development of North Eastern Region (DoNER), an official statement said. Efforts will be made to complete the PM-DevINE projects by 2025-26 so that there are no committed liabilities beyond this year and this implies front-loading of the sanctions under the scheme in 2022-23 and 2023-24 primarily, it said. While expenditure would continue to be incurred during 2024-25 and 2025-26, focused attention will be given to completing the sanctioned PM-DevINE projects. The PM-DevINE will lead to the .

Cabinet approves development of container terminal at Deendayal Port

The Union Cabinet on Wednesday approved the project to develop the container terminal at Tuna-Tekra, Deendayal Port in Gujarat under the public private partnership mode. The estimated cost of Rs 4,243.64 crore will be on the part of the Concessionaire and an estimated cost of common user facilities of Rs 296.20 crore will be on the part of the concessioning authority toward development of common user facilities. Information and Broadcasting Minister Anurag Thakur said that during the concession period, the concessionaire will have the liberty to handle vessels up to 18 metre-draught by deepening/widening its approach channel, berth pocket and turning circle. Deendayal Port is one of the 12 major ports in India and is located on the west coast in the Gulf of Kutch in Gujarat. The project is proposed to be developed on BOT (Built Operate Transfer) basis by a private developer/ BOT operator to be selected through an international competitive bidding process. The concessionaire will

Cabinet okays amendments in Multi-State Cooperative Societies Act

The Union Cabinet on Wednesday approved amendments to the Multi-State Cooperative Societies Act to bring transparency in the sector and reform the electoral process. The Union Cabinet has approved the Multi-State Cooperative Societies (Amendment) Bill, 2022, which seeks to amend the Multi-State Cooperative Societies Act, 2002, I&B Minister Anurag Thakur told reporters here after the Cabinet meeting. He said the amendments have been brought in to improve the ease of doing business. The Bill will incorporate the provisions of the 97th Constitutional Amendment. The amendments have been brought to improve governance, reform the electoral process, strengthen monitoring mechanisms and enhance transparency and accountability. The Bill also seeks to improve the composition of board and ensure financial discipline, besides enabling the raising of funds in the multi-state cooperative societies.

Centre extends free food grain scheme till Dec at a cost of Rs 45k cr

Move to cost the exchequer additional Rs 44,762 crore

Cabinet hikes dearness allowance for central govt employees to 38%

The move will benefit about 4.8 million central government employees and 6.9 million pensioners. The decision will be effective from July 1, 2022.

Top headlines: Centre hikes employees' DA by 4%; TaMo drives in Tiago EV

Business Standard brings you top news of the evening

Cabinet approves extension of free ration scheme for poor by three months

The government on Wednesday extended by three months its programme to provide free rations to the poor at a cost of over Rs 44,700 crore, as it looked to ease pain from high inflation and make political gains in the upcoming Gujarat election. The scheme to provide 5 kg of wheat and rice free of cost to 80 crore poor every month, which was ending on Friday, will now run through December 31, 2022, I&B Minister Anurag Thakur said. The Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) was started in April 2020 to help the poor whose livelihoods were shuttered by a nationwide lockdown aimed at containing the spread of the Coronavirus.

Cabinet approves National Logistics Policy for 'tech-enabled' ecosystem

The policy has three targets-to reduce the cost of logistics in India to be comparable to global benchmarks by 2030

Govt tweaks Rs 76k-cr semiconductor, display fab scheme to woo global firms

The Cabinet on Wednesday approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme. Announcing the decision of the Cabinet, Union Minister Anurag Thakur said the modifications will strengthen the semiconductor scheme, thus raising capacities within the country, encouraging investments, and creating employment opportunities. "Under modified programme, a uniform fiscal support of 50 per cent of project cost shall be provided across all technology nodes for setting up of Semiconductor Fabs," an official release said. Given the niche technology and nature of compound semiconductors and advanced packaging, the modified programme shall provide fiscal support of 50 per cent of capital expenditure for setting up of compound semiconductors / silicon photonics / sensors / discrete semiconductors fabs. "The programme has attracted many global ...

Top headlines: DGCA extends curbs on SpiceJet; Wipro fires 300 employees

The Cabinet on Wednesday approved the national logistics policy, which aims at reducing transportation cost and improve global performance of the sector.

Union Cabinet has approved National Logistics Policy: Anurag Thakur

Prime Minister Narendra Modi last week unveiled the policy which seeks to cut transportation costs by promoting seamless movement of goods across the country