Cabinet approves agreement between India and Philippines on co-operation and mutual assistance in customs matters
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the signing and ratifying of an Agreement between India and Philippines on co-operation and mutual assistance in customs matters. The Agreement will help in the availability of relevant information for the prevention and investigation of Customs offences. The Agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries. This Agreement shall enter into force after the necessary national legal requirements for entry into force of this Agreement have been fulfilled by both the countries.
· Cabinet approves India’s Membership for European Bank for Reconstruction & Development
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved India’s Membership for European Bank for Reconstruction & Development (EBRD). Necessary steps will be initiated by the Department of Economic Affairs, Ministry of Finance to acquire the membership of the EBRD.
· Membership of EBRD would enhance India’s international profile and promote its economic interests. Access to EBRD’s Countries of Operation and sector knowledge.
· India’s investment opportunities would get a boost.
· It would increase the scope of cooperation between India and EBRD through co-financing opportunities in manufacturing, services, Information Technology, and Energy.
· EBRD’s core operations pertain to private sector development in their countries of operation. The membership would help India leverage the technical assistance and sectoral knowledge of the bank for the benefit of development of private sector.
· This would contribute to an improved investment climate in the country.
· The membership of EBRD would enhance the competitive strength of the Indian firms, and provide an enhanced access to international markets in terms of business opportunities, procurement activities, consultancy assignments etc.
· This would open up new vistas for Indian professionals on the one hand, and give a fillip to Indian exports on the other.
· Increased economic activities would have the employment generating potential.
· It would also enable Indian nationals to get the employment opportunity in the Bank.
· Cabinet approves signing of India – Russia Agreement on cooperation in combating terrorism and organized crime
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has given its approval for signing an Agreement on Cooperation between India and Russia in the field of combating all forms of terrorism and organized crime. The Agreement is proposed to be signed during the upcoming visit of Indian Delegation, led by Home Minister, to Russia from 27-29 November, 2017.
· Cabinet approves continuation of the scheme on Indian Institute of Corporate Affairs beyond the 12th Plan Period
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has given its approval for continuation of the scheme on Indian Institute of Corporate Affairs (IICA) for another three financial years (FYs 2017-18 to 2019-20) and providing Grants-in-aid of Rs.18 crore to the Institute. It will make the Institute self-sustainable by the end of FY 2019-20.
· The training programs, research activities and projects conducted by the Institute in partnership with public and private sector in the niche areas of Corporate Governance will enhance the skill sets resulting in increased employability of students as well as professionals.
· The thrust of the Institute is to become a prestigious Institute in the field of Corporate Laws while enhancing its resources and revenues.
· It is envisaged that IICA will be an Institute of National importance thereby becoming an engine of growth leading to increased economic activity.
· The improvement in the professional competence is also expected to help the professionals in tapping employment opportunities in emerging corporate areas including those in overseas.
· Cabinet approves revisedsalaries, gratuity, allowances and pension for the Judges of the Supreme Court and the High Courts
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has approved the revision in the salaries, gratuity, allowances, pension etc. of the Judges of the Supreme Court and the High Courts and retired Judges of Supreme Court and High Courts. It follows the implementation of recommendations of the 7thCentral Pay Commission in respect of Civil Servants.
The approval will pave the way for necessary amendments in the two laws viz. Supreme Court Judges (Salaries and Conditions of Service) Act, 1958 and High Court Judges (Salaries and Conditions of Service) Act, 1954, which govern the salaries of Chief Justice of India (CJI), Judges of Supreme Court of India, Chief Justices and all Judges of High Courts.
The increase in the salary and allowances etc. will benefit 31 Judges of Supreme Court of India (including the CJI) and 1079 Judges(including the Chief Justices) of High Courts. Besides, approximately 2500 retired Judges will also be benefited on account of revision of pension/gratuity etc. Arrears on account of revised salaries, gratuity, pension and family pension w.e.f 01.01.2016 will be paid as one time lump sum payment.
· Cabinet approves setting up of the 15thFinance Commission
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has approved the setting up of the 15thFinance Commission. Under Article 280 (1) of the Constitution,it is a Constitutional obligation. The Terms of Reference for the 15thFinance Commission will be notified in due course of time.
· Cabinet approves Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises (CPSEs).
· Management of the CPSEs would be free to negotiate wage revision for workmen where the periodicity of wage settlement of five years or ten years has expired generally on 31.12.2016 keeping in view the affordability and financial sustainability of such wage revision for the CPSEs concerned.
· No budgetary support for any wage increase shall be provided by the Government. The entire financial implication would be borne by the respective CPSEs from their internal resources.
· In those CPSEs for which the Government has approved restructuring/ revival plan, the wage revision will be done as per the provisions of the approved restructuring / revival plan only.
· The management of the concerned CPSEs have to ensure that negotiated scales of pay do not exceed the existing scales of pay of executives/officers and non-unionized supervisors of respective CPSEs.
· The Management of CPSEs where the five year periodicity is followed have to ensure that negotiated scales of pay for two successive wages negotiations do not exceed the existing scales of pay of executives/officers and non-unionized supervisors of respective CPSEs for whom ten years periodicity is being followed.
· To avoid conflict of pay scales of executives/non-unionised supervisors with that of their workmen, CPSEs may consider adoption of graded DA neutralization and/or graded fitment during the wage negotiations.
· CPSEs must ensure that any increase in wages after negotiations does not result in increase in administered prices of their goods and services.
· The wage revision shall be subject to the condition that there shall be no increase in labour cost per physical unit of output. In exceptional cases where CPSEs are already working at optimum capacity, the administrative Ministry / Department may consult DPE considering industry norms.
· The validity period of wage settlement would be for a minimum period of five years for those who opted for a five year periodicity and for a maximum period of ten years for those who have opted for a ten year periodicity of wage negotiation w.e.f. 01.01.2017.
· The CPSEs would implement negotiated wages after confirming with their Administrative Ministry/Department that the wage settlement is in conformity with approved parameters.
· Cabinet approves expansion of umbrella scheme “Mission For Protection And Empowerment For Women” and introducing a new scheme ‘Mahila Shakti Kendra
The Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Shri Narendra Modi has given its approval for expansion of the schemes of Ministry of Women and Child Development under Umbrella Scheme “Mission for Protection and Empowerment for Women” for a period 2017-18 to 2019-20. CCEA has also given approval to the new scheme called ‘Mahila Shakti Kendra’, which will empower rural women through community participation to create an environment in which they realize their full potential. Expansion under BetiBachaoBetiPadhao has also been approved based on the successful implementation in 161 districts. The financial outlay during 2017-18 to 2019-20 will be Rs.3,636.85 crore with a Central Share of approximately Rs.3,084.96 crore.