Daily Archive: March 7, 2019

Cabinet approves reservation in Teachers’ Cadre Ordinance, 2019

Cabinet approves reservation in Teachers’ Cadre Ordinance, 2019

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the proposal for promulgation of “The Central Educational Institutions (Reservation in Teachers’ Cadre) Ordinance, 2019” considering the University/ College as a unit instead of ‘Department/ Subject’.

Impact:

This decision is expected to improve the teaching standards in the higher educational institutions to attract all eligible talented candidates.

Benefits:

This decision will allow filling up of more than 5000 vacancies by direct recruitment in Teachers’ Cadre duly ensuring that the Constitutional Provisions of Articles 14, 16 and 21 shall be complied with and stipulated reservation criteria for the Scheduled Castes/ Scheduled Tribes and Socially and Educationally Backward Classes are met with.

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Cabinet approves Ex-post facto approval of the MoU signed in 2008 and renewed in 2014 between the ICAI and ICAEW

Cabinet approves Ex-post facto approval of the MoU signed in 2008 and renewed in 2014 between the ICAI and ICAEW

Cabinet also approves the Renewal of the MoU between ICAI & ICAEW

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved Ex-post facto approval of the Memorandum of Understanding (MOU) signed in 2008 and renewed in 2014 between the Institute of Chartered Accountants of India (ICAI) and Institute of Chartered Accountants in England & Wales (ICAEW).  The Cabinet also approved the Renewal of the Memorandum of Understanding between the Institute of Chartered Accountants of India (ICAI) & The Institute of Chartered Accountants in England & Wales

Benefits:

The instant MoU would help encourage more and more young Indian Chartered Accountants to take up the recognition of ICAEW professional designation to further help them pursue professional opportunities in UK. It is a matter of great pride that a number of Indian Chartered Accountants are holding top level positions in companies in UK and with the recognition from ICAEW the Corporates in UK would be trusting Indian talents and skills more to hire them.There are no financial implications for the Government of India.

Major impact:

The aim is to work together to develop a mutually beneficial relationship in thebest interest of members, students and their organizations.The MoU will put both the accountancy institutes on global radar to play theleadership role in addressing new challenges before profession.ICAl has presence of a significant Chapter in UK namely, UK (London) Chapterof ICAl, thus playing a pivotal role for servicing Indian CAs in United Kingdom.

Implementation strategy and Targets:

This MoU will apply to all appropriately qualified and experienced ICAEW andICAl members irrespective of the syllabus they followed for their home body membership. This recognises the evolution of both qualifications and the CPD responsibilities upon members to keep up to date and, additionally, to describe whether practising and auditing rights will be availableupon joining an institute and, where not, to outline the route of re-qualificationthrough additional examinations and work experience that would be necessaryto achieve this.

This MoU is not intended to create a legally binding relationship and itsprovisions are not intended to give rise to legally binding rights, obligations or liabilities.

Point-wise details

Approval of the Cabinet has been granted in respect of the Ex-post facto approval of the Memorandum of Understanding (MOU) signed in 2008 and renewed in 2014 between the Institute of Chartered Accountants of India (ICAI) and Institute of Chartered Accountants in England & Wales (ICAEW) Approval for the Renewal of the Memorandum of Understanding between the Institute of Chartered Accountants of India (ICAI) & The Institute of Chartered Accountants in England & Wales to establish a mutual co-operation framework for the advancement of accounting knowledge, professional and intellectual development, advancement of the interests of their respective members and contribute positively to the development of the accounting profession in England, Wales and India.

Background:

The Institute of Chartered Accountants of India (ICAI) is a statutory body establishedby an Act of Parliament of India, ‘The Chartered Accountants Act, 1949′, to regulate the profession of Chartered Accountancy in India. ICAEW is a world leading professional membership organisation. It provides qualifications and professional development, technical expertise, and protects the quality and integrity of the accountancy and finance profession.

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Cabinet approves Delhi Metro’s Phase -4 project

Cabinet approves Delhi Metro’s Phase -4 project

17 Underground and 29 elevated Stations along 61.679 km the 3 corridors

15 stations between Aerocity to Tughlakabad

25 stations between R K Ashram to Janakpuri West

6 stationsbetween Maujpur and Mukundpur

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approvedDelhi Metro’s Phase -4 projectcomprising of 3 – priority corridors. The total length of these 3 corridors is 61.679 km. Out of the total 61.679 km, 22.359 km will be built underground and 39.320 km will be constructed as elevated section. These corridors will consist of 46 stations, of which 17 stations will be underground and the rest 29 stations will be constructed as elevated sections.

The total completion cost of three metro corridors will be Rs.24,948.65 crore.   The project will be implemented by Delhi Metro Rail Corporation Ltd. (DMRC), the existing 50:50 Special Purpose Vehicle (SPV) of the Government of India and Government of National Capital Territory of Delhi (GNCTD).

Connectivity Highlights:

1.   Aerocity to Tughlakabad – 15 Stations (Aerocity, Mahipalpur, Vasantkunj Sector-D, Masoodpur, Kishangarh, Mehrauli, Lado Sarai, Saket, Saket G Block, Ambedkar Nagar, Khanpur, Tigri, Anandmayee Marg Junction, TughlakabadRIy. Colony, Tughlakabad)

2.   R. K Ashram to JanakpuriWest – 25 Stations(R.K. Ashram, Motiakhan, Sadar Bazar, Pulbangash, GhantaGhar/SabziMandi, Rajpura, Derawal Nagar, Ashok Vihar, Azadpur, Mukundpur, Bhalaswa, MukarbaChowk, BadliMor, North Pitampura, Prashant Vihar, MadhubanChowk, DeepaliChowk, Pushpanjali Enclave, West Enclave, Mangolpuri, PeeragarhiChowk, PaschimVihar, Meerabagh, Keshopur, Krishan Park Ext., Janakpuri West)

3.   Maujpur – Mukundpur – 6 Stations(Yamuna Vihar, Bhajanpura, KhajuriKhas, Soorghat, Jagatpur Village, Burari)

The 3 corridors consist of both underground (22.359 km) and elevated (39.320 km) sections.

Impact:

These corridors of phase – 4 project will expand the coverage of Metro network thereby connecting more areas of the national capital. On completion of these corridors, the Metro commuters will have more interchange stations which will connect the new corridors with the existing lines of Delhi Metro. The improved connectivity will offer commuters more options of travel by optimization of routes. The addition of 61.679 km network through these 3 new corridors will also reduce congestion on the roads and will thus help in reducing pollution caused by motor vehicles. The Tughlakabad – Aerocity corridor will further improve connectivity to the Airport. The total network length of the Delhi Metro will cross the 400 kilometre mark after the completion of these corridors.

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Cabinet approves MoU between UPSC and CSCM

Cabinet approves MoU between UPSC and CSCM

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved Memorandum of Understanding (MoU) between Union Public Service Commission (UPSC) and Civil Service Council of Mongolia (CSCM).

The MoU will strengthen the existing relationship between CSCM and UPSC.  It will facilitate sharing of experience and expertise of both the parties in the area of recruitment.

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Cabinet approves Scheme to Rebate State and Central Embedded Taxes to Support the Textile Sector

Cabinet approves Scheme to Rebate State and Central Embedded Taxes to Support the Textile Sector

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Scheme to Rebate State and Central Embedded Taxes to Support the Textile Sector. This will enable the Government to take various measures for making exports of apparel and made-ups zero rated.

Details:

At present, apparel and made-ups segments are supported under the Scheme for Rebate of State Levies (RoSL). However, certain State as well as Central Taxes continued to be present in the cost of exports. The Cabinet decision provides for a scheme to rebate all embedded State and Central Taxes/levies for apparel and made-ups which have a combined share of around 56% in India’s textile export basket. Rebate of taxes/levies has been permitted through an IT-driven scrip system at notified rates.

Benefits:

The proposed measures are expected to make the textile sector competitive. Rebate of all Embedded State and Central taxes/levies for apparel and made-ups segments would make exports zero-rated, thereby boosting India’s competitiveness in export markets and ensure equitable and inclusive growth of textile and apparel sector.

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Cabinet approves Continuation of Atal Innovation Mission

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved Continuation of Atal Innovation Mission (AIM), and for incurring expenditure up to Rs. 1000 crore till 2019-20 by Atal Innovation Mission for expanding Atal Tinkering Labs to 10,000 schools in view of their huge success at school level.

Details

  • AIM has multiple programs to encourage and support innovation in the country.
  • State of the art Atal Tinkering Labs (ATLs) are being established in thousands of schools, world class Atal Incubation Centres (AIC) and Atal Community Innovation Centers (ACIC) are being established for universities and industry,
  • Promotion of product development in areas of national relevance and social importance is being supported through Atal New India Challenges (ANICs).

Financial implications:

  • Each ATL receives a grant in aid of Rs. 12 lakhs in the first year, and upto 2 lakhs per year for subsequent 4 years, for maintenance of the ATL equipment and operational expenses.
  • Each selected AIC would be receiving grant in aid upto Rs 10 crore over 3-5 years in tranches per year, based on review and evidence of planned milestones reached.
  • Innovators will receive commercialization and technology deployment grants upto Rs. 1 crore under the ANICs.

Impact:

  • The Mission has undertaken many bold and forward-looking initiatives such as Alal Tinkering Labs (ATL) and Atal Incubation Centres (AIC), which have received great traction;
  • Many Ministries/Departments of Government of India have initiated innovation related activities with the help and technical support of AIM.
  • Under the ATL program, more than 10,000 schools are expected to establish these labs by 2020.
  • More than 100 Atal Incubation Centres (AICs) are likely to established around the country, supporting at least 50-60 startups each over the first five years.
  • More than 100 innovators/startups are expected to receive some support for productizing their innovations.
  • Other programs being supported through Ministries will have even more beneficiaries.
  • Each incubator is expected to foster 50-60 technology driven innovative Startups every four years.
  • The 100+ Incubators set up would thus foster 5000-6000 innovative Startups and this will multiply with new incubators being set up.
  • The potential for employment generation from these innovations driven Startups is quite high.

Implementation Strategy and targets:

AIM selects each beneficiary through open, competitive, online applications, and disburses grants directly. Furthermore, AIM leverages its experts and networks around the country to build capacity in ATLs, AICs, etc. connecting various kinds of populations. Additionally, corporate and international partners are connected to AIM beneficiaries, to ensure flow of information and technology between academia, innovation, and the start-up ecosystem as well as provide mentoring support to ensure success of AIM’s initiatives. Till date, 5441 Atal Tinkering Labs have been selected across the country, out of which 2171 ATLs  from  623   districts  have already  received the  first tranche of grant-in-aid  for establishment of the labs in their respective schools. 101 Atal Incubation Centres have been selected nationwide, out of which 31 have received the first tranche of grants.

Twenty-four Atal New India Challenges (ANIC) have been launched and more than 800 applications have been received. 2-3 winners per ANIC would be selected and receive a grant of upto Rs 1.0 crore in 3 tranches based on review and evidence of planned milestones achieved.

AIM’s Mentor of Change Programme is mandated to ensure the success of the ATLs. Through this programme, well-qualified mentors from different professional backgrounds are selected to provide pro-bono mentoring to ATL students over a range of skills. Mentors also collaborate with the School administrators to ensure the ATLs operate in the manner, mandated by AIM. As on date, more than 2,500 mentors are actively mentoring students in over 1,300 ATL schools.

Background:

AlM’s objectives are to create and promote an ecosystem of innovation and entrepreneurship across the country at school, university, research institutions, MSME and industry levels. The Mission has been set up under NITI Aayog, in accordance with the Hon’ble Finance Minister’s declaration in the 2015 Budget Speech.

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Mobility Solutions get a boost

Mobility Solutions get a boost

National Mission on Transformative Mobility and Battery Storage approved by Cabinet

Mission to promote Clean, Connected, Shared and Holistic Mobility Initiatives

Phased Manufacturing Programmes to be launched for batteries and electric vehicle components

The Union Cabinet chaired by Prime Minister Narendra Modi has approved:

  1. Setting up of a National Mission on Transformative Mobility and Battery Storage, to drive clean, connected, shared, sustainable and holistic mobility initiatives;
  2. Phased Manufacturing Programme (PMP) valid for 5 years till 2024 to support setting up of a few large-scale, export-competitive integrated batteries and cell-manufacturing Giga plants in India.
  3. Creation of a PMP valid for 5 years till 2024 to localize production across the entire Electric Vehicles value chain.

Both PMP schemes will be finalised by the National Mission on Transformative Mobility and Battery Storage.

 

National Mission on Transformative Mobility and Storage:

Composition:

  • The multi-disciplinary “National Mission on Transformative Mobility and Battery Storage” with an Inter-Ministerial Steering Committee will be chaired by CEO NITI Aayog.

 

  • The Steering Committee will be comprised of Secretaries from Ministry of Road Transport and Highways, Ministry of Power, Ministry of New and Renewable Energy, Department of Science and Technology, Department of Heavy Industry, Department for Promotion of Industry and Internal Trade, and Director General, Bureau of Industrial Standards.

Role:

  • The Mission will recommend and drive the strategies for transformative mobility and Phased Manufacturing Programmes for EVs, EV Components and Batteries.
  • A Phased Manufacturing Program (PMP) will be launched to localize production across the entire EV value chain. The National Mission on Transformative Mobility and Battery Storage will determine the contours of PMP, and will finalise the details of such a program.
  • The details of the value addition that can be achieved with each phase of localisation will be finalised by the Mission with a clear Make in India strategy for the electric vehicle components as well as battery.
  • The Mission will coordinate with key stakeholders in Ministries/ Departments and the states to integrate various initiatives to transform mobility in India.

 

Roadmaps:

  • A phased roadmap to implement battery manufacturing at Giga-scale will be considered with initial focus on large-scale module and pack assembly plants by 2019-20, followed by integrated cell manufacturing by 2021-22.
  • Details of the PMP for Batteries shall be formulated by the Mission. The Mission will ensure holistic and comprehensive growth of the battery manufacturing industry in India.
  • The Mission will prepare the necessary roadmap that will enable India to leverage upon its size and scale to produce innovative, competitive multi-modal mobility solutions that can be deployed globally in diverse contexts.
  • The Mission will define the roadmap for transformative mobility in “New India” by introducing a sustainable mobility ecosystem and fostering Make-in-India to boost domestic manufacturing and employment generation in the country.

Impact:

  • The Mission will drive mobility solutions that will bring in significant benefits to the industry, economy and country.
  • These solutions will help improve air quality in cities along with reducing India’s oil import dependence and enhance the uptake of renewable energy and storage solutions.
  • The Mission will lay down the strategy and roadmap which will enable India to leverage upon its size and scale to develop a competitive domestic manufacturing ecosystem for electric mobility.
  • The actions in this regard will benefit all citizens as the aim is to promote ‘Ease of Living’ and enhance the quality of life of our citizens and also provide employment opportunities through ‘Make-in-India’ across a range of skillsets.

 

Background:

During the Global Mobility Summit held in September 2018, Prime Minister had outlined the vision for the future of mobility in India based on 7 C’s    which are Common, Connected, Convenient, Congestion-free, Charged, Clean   and Cutting-edge mobility. Mobility has the potential to drive the economy forward and positively impact the lives of citizens both in urban and rural areas.

 

Affordable, accessible, inclusive and safe mobility solutions are primary strategic levers for rapid economic development and improving ‘Ease of Living’. Shared, connected and clean mobility solutions are increasingly becoming the key principles of effective mobility solutions across the world. Given its commitment to climate goals, India needs to adopt effective strategies to place itself as a key driver of the mobility revolution in the world.

 

Hence, there was a need felt to establish a dedicated multi-disciplinary Mission that will facilitate cooperative federalism, extensive stakeholder and inter-ministerial consultations and implement end-to-end policy framework for transforming the mobility landscape with particular focus on:

1.         Manufacturing

2.         Specification & standards

3.         Fiscal incentives

4.         Overall demand creation and projections

5.         Regulatory framework

6.         Research & Development

 

These initiatives will pay significant dividends to a rapidly urbanising India in the decades to come.

 

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Cabinet approves creation of Post of Technical Member in SAT, Mumbai

Cabinet approves creation of Post of Technical Member in SAT, Mumbai

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal for creation of the Post of Technical Member in Securities Appellate Tribunal (SAT), Mumbai at the level of Secretary to the Government of India in the pay scale of Rs. 2,25,000/- (fixed) or Level 17 of the Pay Matrix as per the 7thPay Commission.

Benefits:

          Creation of the post will facilitate the creation of an additional bench in SAT, Mumbai thereby allowing speedy disposal of the increased number of appeals in SAT with respect to Securities and Exchanges Board of India, (SEBI), Insurance Regulatory and Development Authority of India (IRDA) and the Pension Fund Regulatory and Development Authority (PFRDA), which will be much beneficial to investors, pensioners and the general public. The securities market and insurance sector are growing rapidly. With increase in the volume of trading in securities market, and clients in the insurance sector, it is likely that the grievances will also increase. Therefore, it is necessary that a speedy redressal system is established. It would ensure speedy disposal of appeal cases related to insurance, securities market and pension benefitting the general public.

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Paraguay is an important partner of India in the Latin American and Caribbean region: Vice President

Paraguay is an important partner of India in the Latin American and Caribbean region: Vice President

There is a need for decisive action by international community against individuals and groups engaged in terrorist activities;

Calls on the President of the Democratic Republic of Paraguay;

Holds Delegation Level Talks with the Vice President of Paraguay;

Paraguayan leadership affirms its support to combat terrorism against the backdrop of the terror attack in Pulwama;

Applauds Paraguay’s decision to join the International Solar Alliance soon;

Unveils a special commemorative postage stamp on Mahatma Gandhi;

Witnesses signing of Memorandum of Understanding;

Attends reception hosted by the Indian Community of Paraguay

The Vice President of India, Shri M. Venkaiah Naidu has held high level talks with the leadership of Paraguay, in Asuncion today, in a bid to extend India’s outreach in the Latin American region and strengthen bilateral ties.

The Vice President who is on a two-day visit to the Latin American Country, is the highest-level representative of the Republic of India to visit Paraguay in the last 58 years since the establishment of diplomatic relations between the two countries on 13 September 1961.

Shri Naidu is accompanied by a high-level delegation consisting of the Minister of State for Tourism (I/C), Shri Alphons Kannanthanam, the Member of Parliament, Shri Ram Kumar Kashyap and senior officials from the Government of India.

The Vice President called on the President of the Republic of Paraguay, Mr. Mario Abdo Benítez, the Vice President, Mr. Hugo Velázquez, and the President of the National Congress (Senate), Mr. Silvio Ovelar.

Both sides agreed that terrorism posed a grave threat to global peace and stability, stressing that there could be no justification for acts of terror on any grounds whatsoever. Outlining a common desire to take an uncompromising stand against terror, India and Paraguay have agreed to cooperate to deal with the menace of terror.

During the Delegation Level Talks, the Paraguayan leadership decried the brutal terrorist attack that took place in Pulwama. The leadership of Paraguay said that they were on the same page as India as far as the issue of terrorism is concerned and extended heartfelt condolences to those who had lost their loved ones in the Pulwama terror attack. They stated that India could always count on Paraguay´s support in the fight against terrorism and in voicing India’s concerns on terrorism in the international fora.

Shri Naidu, during his interactions, particularly emphasized the scourge of cross border terrorism in India and stressed upon the need to take strong measures against terrorists, terror organizations, their networks and all those who encourage, support, finance and provide safe haven to terrorists and terror groups.

Paraguay’s leadership affirmed its support for a UN Comprehensive Convention on International Terrorism proposed by India. Furthermore, Paraguay assured that they would support India’s candidature to various UN and other multilateral bodies including the permanent membership of the United Nations Security Council.

The Vice President emphasized that Paraguay was an important partner of India in the Latin American and Caribbean region and said that the bilateral relations between the two nations have been showing an upward trend. He opined that India and Paraguay shared common values, interests, aspirations and promising futures.

Observing that there was a feeling of mutual admiration and appreciation among the people of the two nations for each other, Shri Naidu underscored the deep faith in democracy that both nations held.

Talks were held in a warm and cordial atmosphere when the two sides discussed bilateral, regional and multilateral issues of mutual interest.

The Indian and Paraguayan dignitaries noted with satisfaction the strengthening of the bilateral relations over the years and the bilateral trade has increased almost ten-fold over the last ten years. They agreed that there is an ever-greater scope to increase trade volume and diversify the trade basket.

Shri Naidu applauded Paraguay’s decision to join the International Solar Alliance soon, an initiative by India and France, aimed at combating the threats of climate change and global warming.

The Vice President urged the Paraguayan leadership to explore new areas of collaboration including agriculture, hydroelectric and solar energy, health, pharmaceuticals, traditional medicine, Information and Communication Technology, agriculture machinery and biotechnology. Both sides agreed to facilitate promotion of exchanges between academics and universities and also between travel professionals and stakeholders in tourism.

Shri Naidu urged Paraguay to facilitate the convening of the next round of expert level discussions between MERCOSUR and India to take forward the shared agenda of the expansion of the Preferential Trade Agreement.

Narrating the fascinating story of growth and development that India was witnessing, the Vice President said that India was seeing a steady GDP growth rate of 7.5%, which made it the sixth largest economy in the world. ‘India today has emerged as a major global business destination’, he added.

The Vice President also applauded Paraguay’s sustained growth rate in times of economic difficulties around the world.

Shri Naidu underlined the tremendous opportunities that India had, ranging from its huge market with a middle class of 300-350 million people to dynamic and investigative press and media to independent judiciary, and evolved corporate laws and business practices.

Paraguay joined India in remembering the contributions of Mahatma Gandhi on the occasion of the 150th Birth Anniversary of the Mahatma. Shri Naidu along with the Vice President of Paraguay, Mr. Hugo Velazquez jointly unveiled a special commemorative postage stamp on Mahatma Gandhi. Shri Naidu requested the leadership of Paraguay to collaborate to install a bust of Mahatma Gandhi at a prominent location in Asuncion.

The Vice President also witnessed the signing of a Memorandum of Understanding between the Diplomatic and Consular Academy, Ministry of Foreign Affairs of the Republic of Paraguay and the Foreign Service Institute, Ministry of External Affairs of the Republic of India. Decision was made to task experts from both nations to finalize pending agreements including Double Taxation Avoidance Agreement, Bilateral Investment Treaty and for Extradition and Mutual Legal Assistance.

Shri Naidu also attended a reception hosted by the members of the Indian Community in Paraguay. He said that the continued interest in India in Paraguay is due to the Indian diaspora. ‘Each member of the Indian Diaspora is a cultural Ambassador’, he observed.

The Vice President opined that there is a new dynamism in India’s diaspora policy & outreach and added that there is a much greater connect today between India & the Indian diaspora than ever before. Shri Naidu said that the Pravasi Bharatiya Kendra in Delhi and our Embassies are available round the clock to our people in need. He also spoke about the zeal with which India celebrated the recent Pravasi Bharatiya Divas at Varanasi.

Shri Naidu complemented the achievements of the Indian diaspora in Paraguay and expressed hope that, through the diaspora, the ties between the two countries would be further strengthened. He expressed hope that the endeavors of Indian diaspora would be a constant source of satisfaction and pride for the country.

The Vice President thanked the people and the Government of Paraguay for their hospitality and warmth during his visit.

The Vice President underscored the importance of strengthening Parliamentary linkages and invited President of Paraguay, Mr. Abdo Benítez to visit India at a mutually convenient time.

 

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