Cabinet briefing Highlights: Govt approves agri infra fund of Rs 1 lakh cr; allows migrant workers to rent PMAY houses

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Updated: July 10, 2020 10:25:55 am

Cabinet briefing Highlights: Prakash Javadekar said that around 1.08 lakh ready-to-live houses under the Pradhan Mantri Awas Yojana will be given to migrant workers on rent in over 100 cities.

Cabinet briefing LIVE, prakash javadekar, narendra singh tomar, agriculture reforms, PMGKAYThe cabinet has approved setting up agri infra fund of Rs 1 lakh cr, which will facilitate private funding directly to the villages and ensure last-mile connectivity. 

Cabinet briefing Highlights: The Union Cabinet today approved to extend Pradhan Mantri Garib Kalyan Ann Yojana till November. Minister of Information and Broadcasting Prakash Javdekar said that the scheme is aimed at benefitting 81 crore people and will cost Rs 1.49 lakh crore to the exchequer. Last month, PM Modi said that the free ration scheme will be extended in the wake of increased demand for food amid the festive season. In another major decision, the cabinet minister said that around 1.08 lakh ready-to-live houses under the Pradhan Mantri Awas Yojana will be given to migrant workers on rent in over 100 cities. Agriculture Minister Narendra Singh Tomar also announced a major decision in the field of agriculture. The cabinet has approved setting up agri infra fund of Rs 1 lakh cr, which will facilitate private funding directly to the villages and ensure last-mile connectivity. Besides, the Union Cabinet also approved for extending the contribution of both 12% employees’ share and 12% employers’ share under Employees Provident Fund, totaling 24% for another 3 months from June to August, 2020, as part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) and Aatmanirbhar Bharat. In another major move, the cabinet has decided to infuse the capital of Rs 12,450 crore in the three Public Sector General Insurance Companies (PSGICs) namely Oriental Insurance Company Limited (OlCL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL).  Out of Rs 12,450 crore, Rs 3,475 crore will be released immediately while the balance of Rs 6,475 crore will be infused later.

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Highlights

    16:57 (IST)08 Jul 2020
    Ujjwala beneficiaries get three months extension

    The Union Cabinet has approved the proposal of the Ministry of Petroleum & Natural Gas for extension of time limit by three months for availing the benefits of “Pradhan Mantri Garib Kalyan Yojana" for Ujjwala beneficiaries.

    16:52 (IST)08 Jul 2020
    Cabinet approves capital infusion in three Public Sector General Insurance Companies

    The Union Cabinet has approved the capital infusion Rs 12,450 crore in the three Public Sector General Insurance Companies (PSGICs) namely Oriental Insurance Company Limited (OlCL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL). Rs 3,475 crore will be released immediately while the balance of Rs 6,475 crore will be infused later.

    16:40 (IST)08 Jul 2020
    Cabinet approves for extending the contribution of 24% for another 3 months to August 2020

    The Union Cabinet approved for extending the contribution of both 12% employees' share and 12% employers' share under Employees Provident Fund, totaling 24% for another 3 months from June to August, 2020, as part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) and Aatmanirbhar Bharat.

    16:31 (IST)08 Jul 2020
    Agri infra funds to help funding Primary Agri Credit Society (PAC), etc

    The agri infra funds will help funding Primary Agri Credit Society (PAC), farmers groups, FPOs, agri-entrepreneurs, startups, and agri tech players. 

    16:25 (IST)08 Jul 2020
    Projects such as cold stores, cold chain, warehousing to be covered under agri infra fund worth Rs 1 lakh crore.

    Cabinet approves projects such as cold stores, cold chain, warehousing, silos, assaying, e-marketing points linked to e-trading platforms, ripening chambers, etc, to be covered under agri infra fund worth Rs 1 lakh crore.

    16:20 (IST)08 Jul 2020
    Govt backed guarantee on loans up to Rs 2 crore

    Govt approved Credit Guarantee for a loan up to Rs 2 crore for PPP projects.  

    16:13 (IST)08 Jul 2020
    PPP projects for crop aggregation to be sponsored by govt

    Under Agri-Infra Fund of Rs 1 lakh crore announced today, PPP projects for crop aggregation will be sponsored by the central or state governments, or local body agencies,

    16:00 (IST)08 Jul 2020
    Govt sets up Agriculture Fund of Rs 1 lakh crore

    Agri Minister Narendra Singh Tomar announced to set up Agriculture Fund of Rs 1 lakh crore, which would make the private investment to reach villages and will facilitate last-mile connectivity.  

    15:53 (IST)08 Jul 2020
    Roadblock in private investment in agri sector

    Private investment in agriculture doesn't reach villages, last-mile: Agri Minister 

    15:51 (IST)08 Jul 2020
    Government issues Kisan Credit Card to 75 lakh farmers

    Government has issued Kisan Credit Card to 75 lakh farmers, and further aims to provide it to 2.5 crore farmers : Agri Minister Narendra Singh Tomar

    15:49 (IST)08 Jul 2020
    Migrant workers may rent PMAY houses

    In the cabinet meeting held today, it has been decided that 1.08 lakh ready-to-live houses under the Pradhan Mantri Awas Yojana will be given to migrant workers on rent in over 100 cities

    15:41 (IST)08 Jul 2020
    Cabinet approves to extend Pradhan Mantri Garib Kalyan Ann Yojana till November

    Prakash Javadekar announced that the cabinet has approved to extend the Pradhan Mantri Garib Kalyan Ann Yojana in the wake of increased demand for food during festive season. 

    15:31 (IST)08 Jul 2020
    Press conference begins

    Minister of Information and Broadcasting begins press conference

    15:26 (IST)08 Jul 2020
    Indian economy on brink of extinction; faulty climate policies to wipe out nearly entire GDP

    India is singled out by Oxford Economics as following a particularly ruinous trajectory, with GDP falling 90% by 2100 if countries don’t improve current policies. The grim forecast relies on capturing the historical relationship between GDP and temperature. Read full story here

    15:18 (IST)08 Jul 2020
    Ministry of Atomic Energy and Space forms new institution to help private players

    Minister of State for Atomic Energy and Space, Jitendra Singh said that a new institution - Indian National Space, Promotion and Authorisation Centre - has been formed which will guide the private industries in space activities through encouraging policies in a friendly regulatory environment.

    15:11 (IST)08 Jul 2020
    Govt eases export, import process; lays out ‘Turant Customs’ plan for faster clearance

    In an effort to smoothen the process of imports and exports in India, the government has introduced a contactless process, which would enhance the in-house testing capability of the customs. M Ajit Kumar, Chairman, Central Board of Indirect Taxes & Customs (CBIC) unveiled new and modern testing equipment inducted into the Central Revenues Control Laboratory (CRCL), aimed at making imports and exports clearances faster. Read full story here

    15:05 (IST)08 Jul 2020
    India to decide if it wants to win or lose from coronavirus, must select growth areas: Amitabh Kant

    Listing out the scope in data, artificial intelligence, genomics, mobility, and the creative industry, the Niti Aayog CEO Amitabh Kant said that the country should select 12-13 areas of growth that can make India a global champion. he further said that this crisis is going to have huge losers and winners, therefore, India can decide whether it wants to lose or win. Read full story here

    15:01 (IST)08 Jul 2020
    Jobless rate rises again; more people to remain unemployed than pre-COVID level

    Unemployment rate in India has gone up again and has touched 8.87% in the week ended July 5 from a lower rate a week ago. Among the worst hit areas in joblessness are urban areas as the urban unemployment rate has risen to 11.26% from 10.69% a week earlier. On the other hand, rural unemployment stands at 7.78% from 7.62%, according to the data from the Centre for Monitoring Indian Economy (CMIE). Read full story here

    14:56 (IST)08 Jul 2020
    World Bank’s prescription to heal India’s health sector; use private bodies, they meet 60% of demand

    The World Bank said that there is a need to take advantage of India’s private sector to improve health facilities in India as more than 60 per cent of health demand in the country is met by private bodies. Leveraging private clinics along with Direct Benefit Transfer (DBT) may be used as tools to increase engagement with the private sector, said Junaid Ahmad, Country Director, World bank. Read full story here

    14:46 (IST)08 Jul 2020
    Interest subvention of 2% for Shishu loan borrowers

    The cabinet had approved a scheme for interest subvention of 2% to Shishu loan category borrowers under Pradhan Mantri Mudra Yojana, outstanding as on 31st March 2020, for a period of 12 months to eligible borrowers.

    14:41 (IST)08 Jul 2020
    Cabinet brought 1,482 urban cooperative banks under supervision of RBI in last meeting

    In the last Cabinet meeting, it was decided that government banks, including 1,482 urban cooperative banks will be brought under the supervisory power of the RBI. The Cabinet had also approved the declaration of Kushinagar Airport in Uttar Pradesh as an International Airport.

    14:37 (IST)08 Jul 2020
    Amul says India can send dairy items to these nations as Modi pushes for exports

    As PM Modi continues to push for ramping up exports under the Make in India or Atma Nirbhar Bharat scheme, Amul has said that India can become a major dairy products exporter to neighbouring countries. Read full story here

    14:35 (IST)08 Jul 2020
    Here’s how RBI may fund govt’s need for more money, with fiscal deficit at 7%

    India’s government is running out of options to fund its budget and may soon have to knock on the central bank’s door once again for the support. Read full story here

    14:33 (IST)08 Jul 2020
    How Modi govt’s Make in India 2.0 is gateway to self-reliance for small businesses

    The ‘Make in India’ 2.0 has been announced at an opportune time especially for the currently struggling MSME sector. The narrative around Make in India has been going on for over five years now, however, this is the first time that the idea has been backed with a concrete plan, supply of funds and required resources to be able to march towards making India self-reliant. Read full story

    14:30 (IST)08 Jul 2020
    Agriculture Infra Development Fund of Rs 1 lakh crore on cabinet's cards?

    The cabinet may also agree to establish the Agriculture Infra Development Fund of Rs 1 lakh crore. 

    14:26 (IST)08 Jul 2020
    EPF support to workers and businesses under PM Garib Kalyan Yojana likely on cards

    The cabinet is expected to give a nod for EPF support to workers and businesses under PM Garib Kalyan Yojana.

    14:23 (IST)08 Jul 2020
    Free food to meet high demand during festivals

    Last month, PM Modi said that the free ration scheme to benefit 80 crore needy people of India will be extended in the wake of increased demand for food amid the festive season.

    14:20 (IST)08 Jul 2020
    Cabinet briefing at 3:30 pm today

    Minister of Information and Broadcasting Prakash Javdekar and Agriculture Minister Narendra Singh Tomar will soon address a press conference. The cabinet may approve Prime Minister Narendra Modi's decision of extending PM Garib Kalyan Ann Yojana till November. 

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