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Cabinet Approves Over Rs 10,300 Crore for IndiaAI Mission, will Empower AI Startups and Expand Compute Infrastructure Access

The Cabinet has approved an allocation of over Rs 10,300 crore for the IndiaAI Mission today, marking a significant step towards bolstering India’s AI ecosystem. This substantial financial infusion, slated over the next five years, is poised to catalyse various components of the IndiaAI Mission, including pivotal initiatives like the IndiaAI Compute Capacity, IndiaAI Innovation Centre (IAIC), IndiaAI Datasets Platform, ...

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The FDI policy reform will enhance Ease of Doing Business in the country, leading to greater FDI inflows and thereby contributing to growth of investment, income and employment

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the amendment in Foreign Direct Investment (FDI) policy on space sector.  Now, the satellites sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector. The Indian Space Policy 2023 was notified as an overarching, composite and dynamic framework to implement the vision for ...

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Cabinet approveslisting of Export Credit Guarantee Corporation Ltd.through the Initial Public Offer on the stock Exchange

The Cabinet Committee on Economic Affairs chaired by the Hon’ble Prime Minister, Shri Narendra Modi has given approval for listing of M/s. Export Credit Guarantee CorporationLtd. (ECGC), an unlisted CPSE through the Initial Public Offer (IPO) on the Stock Exchange under the SEBI’s (Issue of Capital and Disclosure Requirements) Regulations, 2018. ECGC Limited is a wholly-owned CPSE of Government of ...

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Cabinet approves Loan Guarantee Scheme for Covid Affected Sectors  and to enhance the corpus of Emergency Credit Line Guarantee Scheme 

On account of the disruptions caused by the second wave of COVID 19 specially on healthcare sector, the Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS) enabling funding to the tune of Rs. 50,000 crore to provide financial guarantee cover for brownfield expansion and greenfield projects related to ...

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Cabinet approves Allotment of 5 MHz spectrum in 700 MHz band to Indian Railways

Giving a boost to ‘Aatmanirbhar Bharat’ mission, the Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the proposal for allotment allotment of 5 MHz Spectrum in 700 MHz frequency band to Indian Railways for public safety and security services at stations and in trains. With this spectrum, Indian Railways has envisaged to provide LTE (Long Term Evolution) based ...

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Cabinet approves Production Linked Incentive Scheme for IT Hardware

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Production Linked Incentive (PLI) Scheme for IT Hardware. The scheme proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of IT Hardware. The Target Segments under the proposed Scheme include Laptops, Tablets, All-in-One PCs andServers. The Scheme shall, extend ...

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Cabinet approves Upward revision of MSME definition and modalities/ road map for implementing remaining two Packages for MSMEs (a)Rs 20000 crore package for Distressed MSMEs and (b) Rs 50,000 crore equity infusion through Fund of Funds

In line with Government of India’s top focus on energising MSMEs in the country, a special meeting of Cabinet Committee on Economic Affairs (CCEA) was convened under the Chairmanship of Prime Minister Shri Narendra Modi, here today, which approved the upward revision of MSME definition and modalities/ road map for laying down effective implementation mechanism for the remaining two announcements ...

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