In a recent cabinet meeting, Union Minister Piyush Goyal unveiled five significant decisions made by the Narendra Modi government. These decisions cover a range of areas including financial boosts, support for agriculture, and initiatives in artificial intelligence. This announcement holds significance as it precedes the upcoming Lok Sabha elections expected to take place in May this year.
Increase in Dearness Allowance:
One of the key decisions is the approval of a 4% hike in Dearness Allowance (DA) for government employees and Dearness Relief for pensioners. This increase, effective from January 1, 2024, represents a rise from the existing 46% to 50% of the basic pay/pension. Additionally, various allowances like transport, canteen, and deputation have been raised by 25%. Moreover, House Rent Allowance (HRA) has seen an increase from 27% to 30%, 19% to 20%, and 9% to 10% of the basic pay respectively.
Continuation of Ujjwala Subsidy:
The Cabinet has given the green light for the continuation of a targeted subsidy under the Pradhan Mantri Ujjwala Yojana (PMUY). Beneficiaries will receive a subsidy of ₹300 per 14.2 kg cylinder for up to 12 refills annually from April 1, 2024, to March 31, 2025. This initiative aims to support households in accessing clean cooking fuel, with an estimated expenditure of ₹12,000 crores.
IndiaAI Mission:
A comprehensive nationwide initiative named ‘IndiaAI Mission’ has been endorsed with a substantial budget of ₹10,371.92 crores spanning over five years. This mission seeks to advance indigenous AI development, fostering innovation through strategic programs and partnerships across both public and private sectors. The government envisions democratizing computing access, improving data quality, and developing indigenous AI capabilities to drive responsible and inclusive growth.
Increase in MSP for Raw Jute:
The government has raised the Minimum Support Price (MSP) for raw jute by ₹285 per quintal, bringing it to ₹5335 per quintal. This move aims to ensure a return of 64.8% over the all India weighted average cost of production. The decision aligns with the government’s commitment to fixing the MSP at a level of at least 1.5 times the all India weighted average cost of production.
Uttar Poorva Scheme:
A scheme worth ₹10,037 crores has been approved to promote industrialization in the Northeast region. This scheme is expected to generate around 83,000 direct employment opportunities, with a significant number of indirect employment opportunities anticipated. The initiative underscores the government’s commitment to fostering economic growth and development in the region.
These decisions reflect the Modi government’s commitment to addressing various sectors’ needs, from enhancing employee benefits to promoting agricultural sustainability and fostering technological innovation.
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