THE Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the two umbrella schemes of the Department of Biotechnology (DBT), merged as one scheme- ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio- RIDE)’ with a new component namely Biomanufacturing and Biofoundry. As per an official release, the scheme has three broad components including Biotechnology Research and Development (R&D), Industrial & Entrepreneurship Development (I&ED), and Biomanufacturing and Biofoundry. The proposed outlay for the implementation of the unified scheme ‘Bio-RIDE’ is Rs 9197 crore during the 15th Finance Commission period from 2021-22 to 2025-26. As per the release, the Bio-RIDE scheme is designed to foster innovation, promote bio-entrepreneurship, and strengthen India’s position as a global leader in biomanufacturing and biotechnology. It aims to accelerate research, enhance product development, and bridge the gap between academic research and industrial applications.

 

The scheme is part of the Government of India’s mission to harness the potential of bio-innovation to tackle national and global challenges such as healthcare, agriculture, environmental sustainability, and clean energy. The implementation of the scheme will nurture a thriving ecosystem for startups by providing seed funding, incubation support, and mentorship to bio-entrepreneurs. “The scheme will offer grants and incentives for cutting-edge research and development in areas like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics. It will create synergies between academic institutions, research organizations, and industry to accelerate the commercialization of bio-based products and technologies,” the release mentioned. 

 

Cabinet approves Rs 24,475 cr subsidy on P&K fertilisers THE Government on Wednesday approved Rs 24,474.53 crore subsidy on phosphatic and potassic (P&K) fertilisers for the rabi season of 2024-25 to ensure supply of crop nutrients to farmers at affordable rates. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Nutrient Based Subsidy (NBS) rates for rabi season 2024 (from October 2024 to March 2025) on P&K fertilizers. “The tentative budgetary requirement for rabi season 2024 would be approximately Rs 24,475.53 crore,” an official statement said. The decision is aimed at ensuring the availability of fertilizers to farmers at subsidized, affordable and reasonable prices. The Government is making available 28 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers. The subsidy on P&K fertilizers is governed by the NBS scheme with effect from April 1, 2010. “In view of the recent trends in the international prices of fertilizers & inputs i.E. Urea, DAP, MOP and sulphur, Government has decided to approve the NBS rates for Rabi 2024 on P&K fertilizers,” the statement said. 

 

 

THE Cabinet on Wednesday approved the Pradhan Mantri Janjatiya Unnat Gram Abhiyan, with a budget of Rs 79,156 crore, to improve the socio-economic conditions of tribal communities across the country. The programme aims to provide all Government benefits to five crore tribal families in 63,000 tribal-majority villages. It will cover 549 districts and 2,740 blocks in 30 States and Union territories, according to an official statement. 

 

 

THE Union Cabinet on Wednesday approved a proposal to set up the National Centre of Excellence for Animation, Visual Effects, Gaming, Comics and Extended Reality on lines of the IITs and IIMs to anchor the animation ecosystem in the country. Aimed at positioning India as a content hub for providing State-of-the-art content, enhancing India’s soft power globally and attracting foreign investments into the media and entertainment sector, the centre will be set up in Mumbai as a Section 8 Company under the Companies Act, 2013.

 

 

 

THE Government has approved continuation of the PM-AASHA scheme, with an outlay of Rs 35,000 crore, to provide better prices to farmers and also control price volatility of essential commodities for consumers. “The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation of schemes of Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA) to provide remunerative prices to farmers and to control price volatility of essential commodities for consumers,” an official statement said. The total financial outgo will be Rs 35,000 crore during the 15th Finance Commission Cycle up to 2025-26, it added. The Government has converged the Price Support Scheme (PSS) and Price Stabilization Fund (PSF) schemes in PM-AASHA to serve the farmers and consumers more efficiently. “The Integrated scheme of PM-AASHA will bring in more effectiveness in the implementation which would not only help in providing remunerative prices to the farmers for their produce but also control the price volatility of essential commodities by ensuring their availability at affordable prices to consumers,” the Government said. PM-AASHA will now have the components of Price Support Scheme, Price Stabilization Fund, Price Deficit Payment Scheme and Market Intervention Scheme (MIS).