The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved setting up of Rs.1000 crore Venture Capital Fund dedicated to space sector, under aegis of IN-SPACe. Financial implications: The deployment period of the proposed Rs.1,000 crore VC fund is planned to be up to five years from the actual date of start of the fund operations. The ...

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for provisioning of mobile services in Uncovered Villages of Aspirational Districts across five States of Andhra Pradesh, Chhattisgarh, Jharkhand, Maharashtra & Odisha. The Project envisages to provide 4G based mobile services in the 7,287 uncovered villages of 44 Aspirational Districts across five States of Andhra ...

In order to achieve the objective of Atmanirbhar Bharat, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a scheme to provide Rs.1624 crore over five years as subsidy to Indian Shipping companies in global tenders floated by Ministries and CPSEs for import of  government cargo in the following manner: For a ship which is flagged in India ...

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved Production Linked Incentive (PLI) Scheme for Pharmaceuticals over a period of Financial Year 2020-21 to 2028-29. The Scheme will benefit domestic manufacturers, help in creating employment and is expected to contribute to the availability of wider range of affordable medicines for consumers. The scheme is expected to ...

Tenure of Coking Coal linkage in the non-regulated sector linkage auction increased upto 30 years   The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved the methodology for auction of coal and lignite mines/blocks for sale of coal / lignite on revenue sharing basis and increasing the tenure of coking coal linkage. This methodology provides that ...

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the banning of Unregulated Deposit Schemes Bill, 2019.  It will replace the banning of Unregulated Deposit Schemes Ordinance, 2019. The banning of Unregulated Deposit Schemes Bill, 2019 will replace the Ordinance promulgated on 21st February, 2019, which will otherwise cease to operate after six weeks after reassembly of Parliament. ...

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the Mechanism for procurement of ethanol by Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme- Revision of ethanol price for supply to Public Sector OMCs. Now, CCEA has approved  the following for the forthcoming sugar season 2018-19 during ...

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the capital infusion of Rs.2000 crore for strengthening of  Export Credit Guarantee Corporation (ECGC).  The amount would be infused in the three financial years i.e. Rs.50 crore in 2017-18, Rs.1450 crore in the year 2018-19 and Rs.500 crore for 2019-20. The infusion would enhance insurance ...

Cabinet approves establishment of additional 6.5MMT Strategic Petroleum Reserves at Chandikhol in Odisha and at Padur, Karnataka  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approvedestablishment of additional 6.5 Million Metric Tonne (MMT) Strategic Petroleum Reserve (SPR) facilities at two locations, i.e. Chandikhol in Odisha and Padur in Karnataka, including construction of dedicated SPMs (Single Point Mooring) ...