TRANSFORMING BHARATHAM : NEWS UPDATES & CABINET DECISIONS :17 Jul, 2019.
OPINION : 18/07/2019 : 1861.
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Sub :TRANSFORMING BHARATHAM : NEWS UPDATES & CABINET DECISIONS :17 Jul, 2019.
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Ref : 1. Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019
---------------------------------------------------------------------------------------------------------------------------The Union Cabinet chaired by Prime Minister Narendra Modi has approvedthe extension of the term of Fifteenth Finance Commission up to 30th November, 2019. It will enable the Commission to examine various comparable estimates for financial projections in view of reforms and the new realities to finalise its recommendations for the period 2020-2025.
1. Background :
The Fifteenth Finance Commission has been constituted by the President on 27tn November, 2017 in ‘ pursuance of clause (1) of article 280 of the Constitution and Finance Commission (Miscellaneous Provisions) Act, 1951. The Commission was to submit its Report on the basis of its Terms of Reference (ToR) by 30th October, 2019 covering a period of five years commencing from 1st April, 2020.
The constitution of the Commission has been in the backdrop of various major fiscal/budgetary reforms introduced by the Union Government in the past four years like closure of the Planning Commission and its replacement by NITl Aayog, removal of distinction between Non-Plan and Plan expenditure, advancing the budget calendar by one month and passing of the full budget before commencement of the new financial year i.e. on 1st February, introduction of Goods and Services Tax (GST) from July 2017 and New FRBM architecture with debt and fiscal deficit path.
The ToR of the Commission takes intoaccount the above fiscal/budgetary reforms. The task of determining the expenditure and receipts of the Union and State governments based on which the Commission shall make its recommendations is time consuming, as checks for data consistency across time and data sets become challenging.
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Ref : 2. Cabinet approves Inter-Institutional Agreement between India and USA for cooperation in the field of medicine :
--------------------------------------------------------------------------------------------------------------------------The Union Cabinet chaired by Prime Minister Narendra Modi has given ex-post facto approval to the Inter-Institutional Agreement between India and the USA in the areas of regenerative medicine and 3D bioprinting, new technologies, exchange of scientific ideas/information and technologies, and joint use of scientific infrastructure.
1. Benefits :
The joint research projects, training programmes, conferences, seminars etc. under this Agreement will be open to all qualified scientists and technologists, and will be supported on the basis of scientific merit and excellence. Scientific research and technology development in the areas of regenerative medicine and 3D bio-printing will have potential for generation of new Intellectual Property, processes, prototypes or products.
Both institutes anticipate the general academic exchange contemplated under the Agreement will lead to the development of specific projects, each of which may have academic, clinical and commercial implications.
2. Salient features :
The objective of the Agreement is to contribute towards the development of research and education of both the Institutions through academic collaboration. The general areas of common interest where collaboration and exchange of knowledge are intended for both include:
(1) Exchange of faculty members and students for training, study and research especially in the areas on 3D Bioprinting;
(2) Execution of joint research projects; and
(3) Exchange of information and academic publications.
3. Background :
In line with Govt. of India's stress on stronger and long-term cooperation between the Government of India and the United States of America for mutual benefit in the areas of Science and Technology, Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), Trivandrum, an Institute of National Importance under the Department of Science and Technology (DST), Government of India, has entered into an Agreement on Academic Cooperation with the Wake Forest University Health Sciences on behalf of its Institute for Regenerative Medicine (WFIRM), North Carolina, USA. The Agreement was signed by Prof. Asha Kishore, Director, SCTIMST on behalf of Sree Chitra Tirunal Institute for Medical Sciences and Technology, Trivandrum and Mr. Gregory Burke, Chief Science Officer & Sr. Associate Dean for Research Admin and Prof. Anthony Atala, Director on behalf of Wake Forest University-Health Sciences on behalf of its Institute for Regenerative Medicine, North Carolina, Unites States on 13thDecember 2018.
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Ref : 3. Cabinet approves Amendment in the Terms of Reference for the Fifteenth Finance Commission
--------------------------------------------------------------------------------------------------------------------------The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposed amendment to enable Fifteenth Finance Commission to address serious concerns regarding the allocation of adequate, secure and non-lapsable funds for defence and internal security of India.
The Fifteenth Finance Commission has been constituted by the President on 27th November, 2017 in pursuance of clause (1) of article 280 of the Constitution and Finance Commission (Miscellaneous Provisions) Act, 1951. In keeping with this requirement, the Fifteenth Finance Commission (XV-FC) has been constituted for giving recommendations for the five years period commencing 1st April, 2020.
Under the Terms of Reference (ToR) of the Commission, it is proposed to ensure an assured allocation of resources towards defence and internal security imperatives.
The amendment provides that Fifteenth Finance Commission shall also examine whether a separate mechanism for funding of defence and internal security ought to be set up and if so how such a mechanism could be operationalized.
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Ref : 4. Cabinet approves Implementation of the Cabinet’s decision dated 28.12.2016 regarding pharmaceutical companies in the public sector
------------------------------------------------------------------------------------------------------------------------1. The Union Cabinet chaired by Prime Minister Narendra Modi has approved the following decisions :
(i)Modifying the earlier decision dated 28.12.2016 of sale of land of PSUs to government agencies and instead permitting the sale of land as per revised DPE's guidelines dated 14.06.2018; and
(ii)Providing budgetary support as loan to the tune of Rs 330.35 cr. for meeting the employees’ liabilities (Unpaid salary - Rs. 158.35 cr. + VRS Rs.172.00 cr.) as per following break-up:
a. IDPL - Rs. 6.50cr.
b. RDPL- Rs. 43.70cr.
c. HAL - Rs. 280.15 cr.
(iii) Constitution of a Committee of Ministers for taking all decisions pertaining to closure/ strategic sale of the four Public Sector Undertakings, including the sale of assets and clearance of outstanding liabilities.
2. Major Impact :
Budgetary support of Rs 330.35 cr. would help in disbursing the unpaid salaries and providing support for VRS of employees of IDPL, RDPL and HAL. The decision would mitigate sufferings of more than 1000 employees of these PSUs; and
Setting up of a Committee of Ministers would expedite in process of implementation of the earlier Cabinet decision dated 28.12.2016 for closure of IDPL and RDPL and strategic sale of HAL and BCPL.
3. Background :
Cabinet had decided on 28.12.2016 to sell surplus land of Hindustan Antibiotics Limited (HAL), Indian Drugs & Pharmaceuticals Limited (IDPL), Rajasthan Drugs and Pharmaceuticals Ltd. (RDPL) and Bengal Chemicals & Pharmaceuticals Ltd. (BCPL) through open competitive bidding to Government agencies and clear the outstanding liabilities from the sale proceeds. It was decided that after meeting the liabilities, IDPL and RDPL would be closed and HAL and BCPL put up for strategic sale. Department took earnest efforts for sale of surplus land, but could not find buyers, despite issuing tenders more than once. Meanwhile, the Department of Public Enterprises (DPE) has issued revised guidelines on 14.06.2018 in respect of disposal of land of the PSUs. As funds could not be generated through sale of surplus land, the employees in few of the PSUs (HAL and RDPL) could not be paid salaries and VRS scheme floated. As such, it was decided to dispose of the land as per revised DPE's guidelines and seek up-front budgetary support for meeting employees' liabilities.
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CABINET DECISIONS :
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10 July 2019
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17 July 2019
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JAY HIND, JAY BHARATHAM, VANDE MATARAM, BHARAT MATA KI JAY.
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