Latest news with #UnionCabinet
Time of India
3 hours ago
- Business
- Time of India
India-UK free trade deal gets Cabinet nod: Pact to be signed in London during PM Modi's visit; aims to double trade to $120 bn
The Union Cabinet has approved the long-pending free trade agreement (FTA) between India and the United Kingdom, which is scheduled to be signed in London on July 24 during Prime Minister Narendra Modi's visit, PTI reported citing official sources. The pact, formally called a Comprehensive Economic and Trade Agreement, was finalised on May 6 after multiple rounds of negotiations. The signing will take place during Modi's four-day visit to the UK and Maldives, beginning Wednesday. Commerce and Industry Minister Piyush Goyal will accompany the Prime Minister to London for the formal signing. The trade agreement seeks to remove taxes on exports of labour-intensive products such as leather, footwear and apparel, and to make imports of whisky and cars from the UK cheaper, as both sides target doubling bilateral trade to $120 billion by 2030. The pact includes provisions on goods, services, innovation, government procurement, and intellectual property rights. The text of the agreement is typically signed by the commerce ministers of both countries. Post-signing, the FTA will require ratification by the British Parliament before it can come into effect. Negotiations have also been concluded on a Double Contribution Convention Agreement, or social security pact, which would allow Indian professionals working for a limited period in the UK to avoid double contribution to social security funds. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3BHK Transformation Possible for ₹4.5 Lakh? HomeLane Get Quote Undo However, discussions are still ongoing on the proposed bilateral investment treaty (BIT), which is being negotiated separately, reported PTI. Once signed and ratified by both countries, the FTA will come into force. Such trade agreements typically involve eliminating or significantly reducing customs duties on a wide range of goods and easing norms to promote services trade and investment flows. India's exports to the UK rose 12.6% to $14.5 billion in 2024-25, while imports grew 2.3% to $8.6 billion. The total bilateral trade stood at $21.34 billion in 2023-24, up from $20.36 billion in the previous year. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
6 hours ago
- Business
- Business Standard
Can the employment-linked incentive scheme address India's jobs challenge?
The ELI scheme aims to support employment generation of more than 35 million jobs in two years with an outlay of Rs 1 trillion Shiva Rajora New Delhi Listen to This Article In a bid to support employment generation, the Union Cabinet earlier this month approved the employment-linked incentive (ELI) scheme, which was announced in the Union Budget last year as part of Prime Minister Narendra Modi's package to facilitate skilling and job creation in the country. The ELI scheme aims to support employment generation of more than 35 million jobs in two years with an outlay of Rs 1 trillion. The benefits of the scheme would be applicable to jobs created between August 1, 2025, and July 31, 2027. Echoing industry's sentiments, Chandrajit Banerjee, director general, Confederation of Indian Industry (CII),
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Business Standard
a day ago
- Politics
- Business Standard
Targeted intervention: Aiming at low-productivity districts to boost growth
The Prime Minister Dhan-Dhaanya Krishi Yojana (PM-DDKY), recently approved by the Union Cabinet, marks a shift in India's agricultural policy — from blanket subsidies to targeted, district-level intervention. By focusing on at least one district per state with low productivity, low cropping intensity, and low credit disbursement, this scheme aims to target areas that have been left behind. It places strong emphasis on enhancing agricultural productivity through crop diversification, sustainable practices, improved post-harvest infrastructure and irrigation facilities, and better financial access. Backed by performance-based monitoring through 117 indicators, the scheme signals a clear intent for systemic reform. Historically, India has experimented successfully with similar models. The Intensive Agriculture District Programme (IADP), launched in 1960, and later expanded as the Intensive Agriculture Area Programme (IAAP), brought subject-matter experts together at district level to drive coordinated intervention. It was within this very framework that high-yielding wheat varieties were introduced in 1966, paving the way for the Green Revolution. This demonstrates that district-led, integrated planning is not new but remains a proven template worth revitalising. However, identifying the 100 'Dhan-Dhaanya' districts and designing 117 performance indicators are only the starting point. Given India's agro-climatic and socio-economic diversity, success will depend on decentralised problem-solving and participatory governance. The formation of the 'District Dhan Dhaanya Samiti' is a welcome move in this direction. It must ensure the inclusion of diverse local actors, such as panchayats, farmer-producer organisations (FPOs), women's self-help groups (SHGs), agri-entrepreneurs, cooperatives, private players, and, above all, farmers, because their participation is indispensable for identifying ground-level bottlenecks, prioritising needs, and ensuring accountability. That said, the scheme's design brings its own risks. It relies on the convergence of 36 existing schemes across 11 departments, an effort that, while conceptually sound, is in danger of getting mired in bureaucratic complexity. Additionally, the monthly tracking of 117 indicators across 100 districts, though data-driven in spirit, could become an administrative burden. Over-monitoring may shift focus towards box-ticking rather than tangible outcomes. Besides, another vital dimension is the integration of climate resilience and natural-resource management into district-level planning. Many of the identified districts may overlap with regions vulnerable to erratic rainfall, soil degradation, and groundwater stress. A 2019 NITI Aayog report suggested a water-focused approach in framing state-level agricultural policies and incentives. The PM-DDKY must therefore embed climate-smart agriculture, such as drought-resistant crop varieties, precision irrigation, and agroforestry, within district plans. Strengthening local weather forecasting and promoting decentralised water budgeting can help future-proof these districts. Without climate adaptation as a core metric, short-term productivity gains may falter in the face of long-term environmental distress. To mitigate these risks, capacity-building must be prioritised. Targeting low-productivity districts will not only boost economic activity in some of the backward areas, but will help push overall growth.
Cedar News
a day ago
- Health
- Cedar News
Indian Vice President Jagdeep Dhankhar Resigns Citing Health Concerns
Jagdeep Dhankhar Resigns with Immediate Effect In his official letter addressed to President Droupadi Murmu, Jagdeep Dhankhar stated that his decision was not easy but necessary. Citing persistent health concerns and urging from medical professionals, he emphasized the importance of stepping back from public life to focus on recovery. He expressed heartfelt gratitude to Prime Minister Narendra Modi, the Union Cabinet, and Members of Parliament for their support during his tenure as Vice President. 'Vice President Jagdeep Dhankhar has served the nation with distinction. His deep understanding of constitutional values and commitment to democracy will be remembered.' Opposition leaders, including Mallikarjun Kharge and Shashi Tharoor, also acknowledged his contribution, wishing him a full and speedy recovery. Who Was Jagdeep Dhankhar Before His Resignation? Before holding the office of Vice President, Jagdeep Dhankhar served as the Governor of West Bengal and was known for his sharp legal acumen and strong views on parliamentary ethics. A lawyer by profession and a public servant for over four decades, Dhankhar became a notable figure in national politics, particularly during his role in the Rajya Sabha. His unexpected resignation brings an end to a significant chapter in India's parliamentary leadership. What Comes Next After Jagdeep Dhankhar Resigns? Following the announcement that Jagdeep Dhankhar resigns, the constitutional process to elect a new Vice President will be triggered. The Election Commission is expected to release an official schedule in the coming days. Until a successor is chosen, the responsibilities of the Vice President and Chairperson of the Rajya Sabha will likely be handled by a senior member of the House. Health, Age, and Political Office At 73, Jagdeep Dhankhar's decision reflects a growing awareness of the physical toll high-level political roles can take. In recent months, Dhankhar had reportedly been undergoing treatment for a chronic medical condition, and sources suggest that stepping down was advised after recent health evaluations. His move opens broader conversations about age, health, and leadership sustainability in Indian politics. Final Thoughts: A Nation Reflects as Jagdeep Dhankhar Resigns As Jagdeep Dhankhar resigns, India bids farewell—for now—to a leader known for his resilience, intellect, and strict adherence to parliamentary procedure. While political observers anticipate the upcoming Vice Presidential election, many citizens and leaders alike are focused on wishing Mr. Dhankhar strength, health, and peace in his next chapter.
The Hindu
4 days ago
- Business
- The Hindu
All in one: on the Prime Minister Dhan-Dhaanya Krishi Yojana scheme
The Prime Minister Dhan-Dhaanya Krishi Yojana (PMDDKY), a scheme approved by the Union Cabinet, is to be implemented through the convergence of 36 existing schemes across 11 Departments. According to Union Agriculture Minister Shivraj Singh Chouhan, the scheme seeks to address the 'disparities in productivity' between States, and even among districts within a State. The Centre's pet schemes such as the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) and the PM Fasal Bima Yojana (PMFBY) as well as relevant State schemes, to be identified by the District Dhan Dhaanya Samitis, will be subsumed in the PMDDKY. Local partnerships with the private sector will also be promoted under the proposed scheme, which will begin in October during the rabi crop season. The scheme is to get an annual outlay of ₹24,000 crore for six years. Modelled on NITI Aayog's Aspirational Districts Programme, the Centre will identify 100 districts based on low productivity and cropping intensity and less credit disbursement. The hope is that the scheme will result in higher productivity, value addition in agriculture and allied sectors, local livelihood creation, leading to increased domestic production and self-reliance. This convergence of schemes must be viewed in the background of decreasing public spending on agriculture. The Parliamentary Standing Committee on Agriculture, in the latest report on Demands for Grants, had observed a continuous decline, from 3.53% in 2021-22 to 3.14% (2022-23), 2.57% (2023-24), 2.54% (2024-25) and 2.51% (2025-26), of the allocations for agriculture as a percentage of total Central Plan outlay. This aggregation of all schemes under one umbrella suggests that the Government wants uniformity in running the welfare, financial and technical schemes in the agriculture sector. It is keen to add States' measures too in the new scheme. It remains to be seen how effective such uniformity will be on the ground as further decrease in public investment in agriculture could be disastrous. Private-public partnerships should be for the larger good of self-reliance, particularly in the production of foodgrains, edible oil and pulses. The progress of area coverage under kharif crops, released last week, points to a decrease in the sowing of oil seeds and popular pulses. Though it promotes national uniformity, it is welcome that the new scheme will function based on 'District Plans' that will be aligned to the national goals of crop diversification, conservation of water and soil health, self-sufficiency in agriculture and allied sectors. For the PMDDKY, the Centre will monitor 117 key indicators of progress on a monthly basis. But to make it more participatory, States, local self governments, primary agriculture cooperative societies, agriculture universities and organisations of farmers and traders must be involved in this process.
