Government has hiked minimum support price for major kharif crops
Keen to up the tempo on agricultural reforms, mindful of the farmers agitation over the contentious farm laws and the controversial minimum support price (MSP) issue, the Union Cabinet on Wednesday cleared the increase in support price for kharif crops for the 2021-22 season.
The MSP for major crops like sesamum, tur and urad have been hiked, with the Minister for Agriculture Narendra Singh Tomar saying that in case of sesamum, there has been the highest absolute increase of price at Rs 452 per quintal, followed by tur and urad. MSP for both have been fixed at Rs 300 per quintal.
The Union Cabinet on Wednesday approved production-linked incentive (PLI) scheme for pharmaceuticals over a period of eight years (FY21-FY29). It will benefit domestic manufacturers, help in creating employment and is expected to contribute to the availability of wider range of affordable medicines for consumers. The total quantum of incentive under the scheme is about Rs 15,000 crore.
The manufacturers of pharmaceutical goods registered in India will be grouped based on their global manufacturing revenue to decide the target elements for the scheme. The scheme is expected lead to the total incremental sales of Rs 2.94 trillion and exports worth Rs 1.96 trillion are estimated during six years from FY23 to FY28. It is also expected to bring in investment of Rs.15,000 crore in the pharmaceutical sector.
The union cabinet on Wednesday approved production-linked incentive scheme for IT hardware products. The target IT hardware segments under the proposed Scheme include laptops, tablets, personal computers (PCs) and servers. The total cost of the PLI scheme for IT hardware is approximately Rs 7,350 crore over 4 years. After the success of in bringing investments in mobile phone (handsets and components) manufacturing, the union cabinet chaired by the Prime Minister, Narendra Modi has approved the PLI scheme for IT hardware, the government said in a release. The proposed scheme is likely to benefit major global as well as domestic manufacturers of IT hardware products and will offset the import reliance in this segment. Over the next 4 years, the scheme is expected to lead to total production of upto Rs 3.26 trillion.