Cabinet Decision/Cabinet Approval 24th August 2024 All MoUs Agreements List. Union Cabinet Approval 24th August 2024 All MoU and Agreements with Details Given Below:
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| Cabinet Approval 24th August 2024 All MoU and Agreements |
Cabinet Approval 24th August 2024 All MoU and Agreements
The Union Cabinet, chaired by the Prime Minister Narendra Modi approved 24th August 2024 All MoU and Agreements with Details Given Below:
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Cabinet approves Unified Pension Scheme (UPS)
The Union Cabinet, chaired by the Prime Minister Narendra Modi approved the Unified Pension Scheme (UPS).
Features of the Unified Pension Scheme (UPS)
According to the Government of India some important features of Unified Pension Scheme (UPS) are as follows.
- Assured Pension: 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. This pay is to be proportionate for lesser service periods upto a minimum of 10 years of service.
- Assured Family Pension: @60% of pension of the employee immediately before her/his demise.
- Assured Minimum Pension: @10,000 per month on superannuation after minimum 10 years of service.
- Inflation Indexation: on assured pension, on assured family pension and assured minimum pension Dearness Relief based on All India Consumer Price Index for Industrial Workers (AICPI-IW) as in case of service employees.
- Lump sum payment at superannuation in addition to gratuity 1/10th of monthly emoluments (pay + DA) as on the date of superannuation for every completed six months of service this payment will not reduce the quantum of assured pension.
Cabinet approves Department of Science and Technology scheme namely ‘Vigyan Dhara’
The Union Cabinet, chaired by the Prime Minister Narendra Modi approved continuation of the three umbrella schemes, merged into a unified central sector scheme namely ‘Vigyan Dhara’ of Department of Science and Technology (DST).
The scheme has three broad components:
- Science and Technology (S&T) Institutional and Human Capacity Building,
- Research and Development
- Innovation, Technology Development and Deployment
The proposed outlay for the implementation of the unified scheme ‘Vigyan Dhara’ is Rs.10,579.84 crore during the 15th finance Commission period from 2021-22 to 2025-26.
The merger of the schemes into a single scheme would enhance efficiency in fund utilization and establish synchronization among the sub-schemes/programs.
Objective
The primary objective of the 'Vigyan Dhara' scheme is to promote S&T capacity building as well as research, innovation and technology development towards strengthening the Science, Technology and Innovation ecosystem in the country. Implementation of the scheme will strengthen the S&T infrastructure of the country by fostering well-equipped R&D labs in the Academic Institutions.
Cabinet approves BioE3 Policy for Fostering High Performance Biomanufacturing
The Union Cabinet, chaired by the Prime Minister Narendra Modi approved the proposal ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Biomanufacturing’ of the Department of Biotechnology.
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The salient features of BioE3 policy include innovation-driven support to R&D and entrepreneurship across thematic sectors. This will accelerate technology development and commercialization by establishing Biomanufacturing & Bio-AI hubs and Biofoundry.
The BioE3 Policy will foster and advance future that is more sustainable, innovative, and responsive to global challenges and lays down the Bio-vision for Viksit Bharat.
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