The Union Cabinet, chaired by Prime Minister Narendra Modi, has taken several key decisions including announcing 12 per cent incentive towards EPF for new employees in the informal sector. The government also approved educational loan worth Rs 66,000 crore for economically weaker sections of the society. Besides, to give a push to the development works in the North East region, the government announced Rs 45,00 crore for various schemes.

1. New Integrated Scheme for School Education

The Cabinet approved to formulate a new Integrated Scheme for School Education from April 1 to March 31, 2020. The Department of School Education and Literacy had proposed to formulate an Integrated Scheme on School Education by subsuming Sarva Shiksha Abhiyan (SSA), Rashtriya Madhyamik Shiksha Abhiyan (RMSA) and Teacher Education (TE). The decision aims to improve the quality of school education by focussing on technological upgrades. The government will replace blackboards with digital boards in the next five years.

2. 12% contribution to EPF for new employees

The government announced that it will bear the entire 12 per cent contribution to the Employees Provident Fund (EPF) for new employees in the informal sector. The decision will benefit 1 crore employees. It will cost the exchequer around Rs 6,500 crore to Rs 10,000 crore.

3. Rs 4500 cr for development projects in NE

To speed up the development projects in North East, the Cabinet approved the continuation of schemes of North Eastern Council (NEC) including continuation of the existing programmes. The government has approved Rs 4500 crore fund for next three years. Also, the scheme of NEC – Special Development Project will be changed to a Central Sector Scheme which will see 100% grant.

4. Rs 66,000 crore education loan approved for weaker section

To provide education loan to 10 lakh students, the Cabinet approved continuation of Credit Guarantee Fund for Education Loans (CGFEL) Scheme. It also approved continuation and modification of Central Sector Interest Subsidy Scheme (CSIS). The financial outlay for the same would be Rs 6,600 crore.

5. Dealer’s margin on sale of Urea revised

The government revised dealer’s margin to Rs 354 per MT of Urea for both private and institutional agencies. At present, the dealer’s margin for sale of urea by private agencies and cooperatives is Rs 180 whereas it is Rs 200 for institutional agencies. The decision will come into effect from April 1. It will benefit approx 23,000 dealers across the country.

6. Export of all edible oils in bulk (except mustard oil)

The Cabinet approved the proposal of Ministry of Commerce & Industry for removal of the prohibition on export of all varieties of edible oils except mustard oil. It also decided that Mustard oil will continue to be exported only in consumer packs upto 5 Kgs and with a minimum export price of $ 900 per tonne.

7. Cabinet approves strengthening of Krishi Vigyan Kendras

The Cabinet approved the Department of Agricultural Research and Education’s proposal for the continuation and strengthening of 669 Krishi Vigyan Kendras (KVKs) till 2019-20. The government also approved the proposal for 11 Agricultural Technology Application Research Institutes, support to the Directorates of Extension Education (DEEs) of Agricultural Universities (AUs) and all special programmes associated with the Scheme and establishment of 76 spill over KVKs as already approved in the 12th Plan. The financial outlay for the KVK Scheme including for 2017-20 shall be of Rs 2,82,400.72 lakh.

8. Restructuring of National Skill Development Fund and National Skill Development Corporation

The Cabinet approved the restructuring of National Skill Development Fund and National Skill Development Corporation to strengthen governance, implementation and monitoring framework.

9. Nutrient Based Subsidy (NBS) to continue beyond 12th Five-Year Plan

The Cabinet approved the continuation of Nutrient Based Subsidy (NBS) and City Compost Scheme beyond 12th Five Year plan till 2019-20. The continuation of both the schemes will cost exchequer whopping Rs 61,972 crore.