New Delhi/Hyderabad: The Union Cabinet chaired by Narendra Modi took several key decision at its meeting held in New Delhi. Among the decisions taken were establishment of International Big Cat Alliance (IBCA) and amendment of Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 for specifying rate of royalty in respect of 12 critical and strategic minerals.
1. The Cabinet approved the establishment of International Big Cat Alliance (IBCA) with headquarters in India with a one-time budgetary support of Rs.150 crore for a period of five years from 2023-24 to 2027-28.
2. IBCA has secured Government of India's initial support of Rs. 150 crore for five years (2023-24 to 2027-28). For augmented corpus, contributions from bilateral and multilateral agencies; other appropriate institutions and mobilizing financial support from public sector organizations, national and international financial institutions and donor agencies will further be explored.
3. The Cabinet also approved the amendment of Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 ('MMDR Act') for specifying rate of royalty in respect of 12 critical and strategic minerals - Beryllium, Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten and Vanadium.
4. This completes the exercise of the rationalisation of royalty rates for all 24 critical and strategic minerals. The Government had notified the royalty rate of four critical minerals - Glauconite, Potash, Molybdenum and Platinum Group of Minerals on March 15, 2022 and of three critical minerals - Lithium, Niobium and Rare Earth Elements on October 12, 2023.
5. The Cabinet also approved proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for Kharif season, 2024 (from April 1 to September 30) on Phosphatic and Potassic (P&K) fertilizers and inclusion of three new fertilizer grades under NBS scheme. The tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420 crore.
6. The benefits are availability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured. Rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs and inclusion of three new grades in NBS will support in promoting balanced soil health and offer alternatives to the framers to choose fertilizers fortified with micro-nutrients as per the soil requirement.
7. The Cabinet also approved PM-Surya Ghar: Muft Bijli Yojana with a total outlay of Rs.75,021 crore for installing rooftop solar and providing free electricity up to 300 units every month for one crore households. The Prime Minister had launched the scheme on February 13.
8. The Cabinet approved the establishment of three semiconductor units under ‘Development of Semiconductors and Display Manufacturing Ecosystems in India. All three units will start construction within next 100 days. The Tata Electronics Private Limited will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan. This fab will be constructed in Dholera, Gujarat. Investment in this fab will be Rs.91,000 crore.
9. The Tata Semiconductor Assembly and Test Pvt Ltd will set up a semiconductor unit in Morigaon, Assam. This unit will be set up with an investment of Rs.27,000 crore. TSAT semiconductor is developing indigenous advanced semiconductor packaging technologies including flip chip and ISIP (integrated system in package) technologies. The CG Power, in partnership with Renesas Electronics Corporation, Japan and Stars Microelectronics, Thailand will set up a semiconductor unit in Sanand, Gujarat. This unit will be set up with an investment of Rs.7,600 crore.
10. The Cabinet approved the proposal of creation of one post at the level of Scientist H (in the pay level 15) as Director of National Institute of One Health, Nagpur who will also serve as the Mission Director for the multi-Ministerial and multi-sectoral National One Health Mission for integrated disease control and pandemic preparedness, by bringing human, animal, plant and environmental sectors together.
