Cabinet apprised of the MoU between India and Angola for promoting bilateral cooperation in the field of Electronics and Information Technology
23 May 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) the between India and Angola for promoting bilateral cooperation in the field of Electronics and Information Technology. The MoU intends to promote closer cooperation in the areas of e-Governance, HRD for IT education, Information Security, Electronics Hardware manufacturing, IT embedded Software industry, Telemedicine etc.
Background:
The Ministry of Electronics and Information Technology (MeitY) has been mandated to promote international cooperation in the emerging and frontier areas of Information and Communications Technology (ICT) under bilateral and regional framework of cooperation. MeitY has entered into MoUs/Agreements with counterpart organizations/ agencies of various countries to promote close cooperation and exchange of information in the area of ICT. To further enhance cooperation with various countries, particularly in view of the new initiatives taken by Government of India like "Digital India", "Make in India" etc., there is an increased need for exploring business opportunities in the technology sector which are of interest. MeitY negotiated a comprehensive MoU for a focussed cooperation in ICT areas such as in e-Governance, HRD for IT education, Information Security, Electronics Hardware manufacturing, IT embedded Software industry, Telemedicine etc. After negotiations the draft MoU was finalised and signed during the visit of Hon'ble Minister of State for External Affairs Mr. M.J. Akbar on behalf of MeitY, Government of India and Mr. Domingos Custodio Vieira Lopes, Secretary of State for International Cooperation and Angolan Communities, on behalf of Minister of Telecommunications and Information Technology, Government of Angola.

Cabinet approves MoU signed between India and France in the field of Renewable Energy
23 May 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval tothe Memorandum of Understanding (MoU) signed between India and France in the field of Renewable Energy on 10th March, 2018 in New Delhi. Both sides aim to identify research/ demonstration/ pilot project between National Institute of Solar Energy (NISE), India and Commissariat aI'EnergieAtomique et aux Energies Alternatives (CEA), France in the mutually identified areas. Based on mutual agreement, both parties would work for implementation & deployment of pilot project in ISA member countries. Collaboration may occur through several means, including joint research projects, joint R&D, joint workshops, Research and Technology exchange including exchange of domain experts. The MoU also aims for exchange of expertise and networking of information. The MoU will help in strengthening bilateral cooperation between the two countries.

Cabinet approves MoU between India and Denmark on Food Safety Cooperation
23 May 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval to the Memorandum of Understanding (MoU) between India and Denmark regarding cooperation in the areas of food safety. The MoU was signed on 16th April 2018.
Benefits:
The MoU will help deepen bilateral ties, mutual understanding and trust, eventually strengthening both sides in their capacity building efforts towards food safety. It will further promote understanding of the best practices in the areas of food safety in both countries and in faster resolution of issues related to food safety. The MoU will help improve food safety standard setting by getting access to best practices and facilitating food trade of important commodities.

Cabinet approves MoU between India and Morocco on India-Morocco cooperation in Renewable Energy
23 May 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) between India and Morocco on India-Morocco Cooperation in Renewable Energy. The MoU was signed on 10th April, 2018 in New Delhi. Both sides aim to establish the basis for a cooperative institutional relationship to encourage and promote technical bilateral cooperation on new and renewable energy issues on the basis of mutual benefit, equality and reciprocity. The MoU envisages establishing a Joint Working Committee to review, monitor and discuss matters relation to areas of cooperation. The MoU aims for exchange of expertise and networking of information. The MoU will help in strengthening bilateral cooperation between the two countries.

Cabinet approves MoU between India and Singapore on Cooperation in the field of Personnel Management and Public Administration
23 May 2018

The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has approved signing of the Memorandum of Understanding (MoU) between India and Singapore on Cooperation in the field of Personnel Management and Public Administration.
Salient features:
The MoU aims at improving the current system of governance, particularly in the areas of Workforce, Workplace and Jobs, Public Service Delivery, Human Resource Management, Public Sector Reform, Leadership/ Talent Development and E-Governance/Digital Government.
Benefits:
The MoU will provide a framework for cooperation between India and Singapore in the field of Public Administration and Governance Reforms. It aims at achieving excellence in public administration, good governance and public service reform, which in turn, would ensure and promote greater public accountability. It also aims to bring about innovative best practices, so as to achieve excellence in public administration in the context of improving online public service delivery.

Cabinet approves MoU between India and Singapore on Cooperation in the field of Personnel Management and Public Administration
23 May 2018

The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has approved signing of the Memorandum of Understanding (MoU) between India and Singapore on Cooperation in the field of Personnel Management and Public Administration.
Salient features:
The MoU aims at improving the current system of governance, particularly in the areas of Workforce, Workplace and Jobs, Public Service Delivery, Human Resource Management, Public Sector Reform, Leadership/ Talent Development and E-Governance/Digital Government.
Benefits:
The MoU will provide a framework for cooperation between India and Singapore in the field of Public Administration and Governance Reforms. It aims at achieving excellence in public administration, good governance and public service reform, which in turn, would ensure and promote greater public accountability. It also aims to bring about innovative best practices, so as to achieve excellence in public administration in the context of improving online public service delivery.

Cabinet approves provision of mobile connectivity in Left Wing Extremism Areas
23 May 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the "Universal Service Obligation Fund [USOF]” supported scheme to provide mobile services at 4072 tower locations identified by MHA in inhabited uncovered areas affected by Left Wing Extremism [LWE] of 96 districts in 10 States for Phase-ll project. The total project cost would be Rs.7,330 Crore. This network would be used by the security personnel deployed in LWE affected areas. Project will also provide the mobile services to help the residents in unconnected inhabited villages which would improve the economic activities in the region. It will give impetus to the e-Governance activities in the backward and LWE affected area with the availability of digital mobile connectivity.
Background:

LWE Phase I project
The LWE phase-l project for providing the mobile services using 2G technology in LWE Areas with a total sanctioned cost of Rs, 4080.78 Cr is on completion. Total 2335 sites are radiating out of total 2355 as on date.
B. LWE-Phase-II project
MHA in consultation with the concerned states has identified 4072 tower locations for the communication need of the security personnels deployed in 96 districts of 10 states and provided to DoT on 27th October, 2017. Technology proposed in the Phase-ll project has been upgraded according to the requirement of Stakeholders. Now 2G and 4G technology is being deployed in this project for providing the mobile connectivity.

Cabinet approves USOF scheme for provision of mobile services in Meghalaya under CTDP for North Eastern Region
23 May 2018

The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has approved Implementation of a Comprehensive Telecom Development Plan (CTDP) for the North Eastern Region(NER) in Meghalaya at a total estimated project cost of Rs. 3911 crore to be funded by the Universal Service Obligation Fund (USOF) and approval of the enhanced cost of CTDP Project for NER for an amount of Rs. 8120.81 crore (Rs. 5336.18 crore already approved by the Cabinet on 10.09.2014).
Salient features:
The Scheme entails: Provision of 2G+4G mobile coverage in identified uncovered areas of the State of Meghalaya; and Provision of 2G+4G seamless mobile coverage along the National Highways in Meghalaya.
Benefits:
Strengthening of telecom network will result in increase the penetration of mobile connectivity in Meghalaya resulting in affordable and equitable access of communication, information and governance to people. Providing access to public mobile network to hitherto unreached people of Meghalaya will empower citizens with benefits of ICTs for furthering socio-economic developments. The innovative skill of uncovered areas will increase through broadband and internet access.

Cabinet approves waiver of Penal Interest on Government Loans advanced to Visakhapatnam Port Trust
23 May 2018

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for waiving of Penal Interest on Government Loans to Visakhapatnam Port Trust (VPT) as per following: Waiver of Penal Interest amounting to Rs. 250.89 crore in respect of VPT as on 31.03.2017 and further accruals thereon till date of approval of waiver; VPT to pay penalty @0.25%of Penal Interest as on date of approval of waiver of Penal Interest;

Cabinet approves MoU between India and Canada for cooperation in the field of Science & Technology
10 January 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved a Memorandum of Understanding (MoU) with Canada for cooperation in the field of Science & Technology. The MoU will provide a mechanism and help to foster scientific cooperation between R&D and academic institutions of India and Canada.
Salient features:
·An innovative model of R&D cooperation between India and Canada will be implemented under a MoU concluded by the Department of Science and Technology with the Natural Sciences and Engineering Research Council (NSERC) of Canada. ·Under this MoU, the India-Canada Centre for Innovative Multidisciplinary Partnership to Accelerate Community Transformation and Sustainability (IC-IMPACTS) programme will be supported to promote India-Canada multidisciplinary research partnerships. ·The R&D projects will be aimed at accelerating social transformation by providing solutions through application of science and technology. ·The participants will include researchers from scientific organizations, academia and R&D laboratories from India and Canada. ·Identified areas of mutual cooperation include safe and sustainable infrastructure and integrated water management. ·This will help to develop institutional networking and support the establishment of connections between scientific organizations, scientists and specialists of India and Canada.
Background:
The MoU was concluded in pursuance to the inter-governmental Agreement for Scientific and Technological Cooperation between the India and Canada concluded in November 2005.

Cabinet approves implementation of CCEA decision on closure of Tungabhadra Steel Products Limited
10 January 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the implementation of the CCEA decision on closure of Tungabhadra Steel Products Limited (TSPL) regarding disposal of its immovable assets. It also provides for getting the name of the company struck off from the Registrar of Companies after setting balance liabilities of TSPL. It may be recalled that CCEA had approved the closure of the company in December, 2015 after discharging all dues to employees/workers and creditors. Cabinet approved transfer of MMH Plants to Government of Karnataka along with 20,000 square meter land. Cabinet also approved selling 82.37 acres of land of the Company at Hospet to Karnataka Government for use of the Karnataka State Housing Board. The land is being sold to Karnataka Government at the rate of Rs. 66 lakh per acre offered by them.

Cabinet approves fixed term for Chairperson and Members of the National Trust
10 January 2018

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal to amend Section 4(1) and Section 5(1) of the National Trust for the Welfare of Person with Autism, Cerebral Plasy, Mental Retardation and Multiple Disabilities Act, 1999 to fix the term of the Chairperson and Members of the Board of National Trust for three years. Section 4(1) of the National Trust Act, 1999 provides that the Chairperson or a Member of the Board of National Trust would continue in office beyond the prescribed term of three years until his successor shall have been duly appointed. In case of resignation of the Chairperson, section 5(1) of the Act provides for him to continue in office until his successor is duly appointed by the Government. The wording of the above provisions of the Act in its present form has resulted in continuation of a Chairman for an indefinite period as no suitable successor could be found eligible for appointment. The proposed amendments in these provisions of the Act seek to avoid such a situation and will thus eliminate any chance of prolonged continuation in the same post by any incumbent.

FDI policy further liberalized in key sectors Cabinet approves amendments in FDI policy
10 January 2018

· 100% FDI under automatic route for Single Brand Retail Trading · 100% FDI under automatic route in Construction Development · Foreign airlines allowed to invest up to 49% under approval route in Air India · FIIs/FPIs allowed to invest in Power Exchanges through primary market · Definition of ‘medical devices’ amended in the FDI Policy The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has given its approval to a number of amendments in the FDI Policy. These are intended to liberalise and simplify the FDI policy so as to provide ease of doing business in the country. In turn, it will lead to larger FDI inflows contributing to growth of investment, income and employment. Foreign Direct Investment (FDI) is a major driver of economic growth and a source of non-debt finance for the economic development of the country. Government has put in place an investor friendly policy on FDI, under which FDI up to 100%, is permitted on the automatic route in most sectors/ activities. In the recent past, the Government has brought FDI policy reforms in a number of sectors viz. Defence, Construction Development, Insurance, Pension, Other Financial Services, Asset reconstruction Companies, Broadcasting, Civil Aviation, Pharmaceuticals, Trading etc. Measures undertaken by the Government have resulted in increased FDI inflows in to the country. During the year 2014-15, total FDI inflows received were US $ 45.15 billion as against US $ 36.05 billion in 2013-14. During 2015-16, country received total FDI of US $ 55.46 billion. In the financial year 2016-17, total FDI of US $ 60.08 billion has been received, which is an all-time high. It has been felt that the country has potential to attract far more foreign investment which can be achieved by further liberalizing and simplifying the FDI regime. Accordingly, the Government has decided to introduce a number of amendments in the FDI Policy.
Details:

Government approval no longer required for FDI in Single Brand Retail Trading (SBRT)
Extant FDI policy on SBRT allows 49% FDI under automatic route, and FDI beyond 49% and up to 100% through Government approval route. It has now been decided to permit 100% FDI under automatic route for SBRT. It has been decided to permit single brand retail trading entity to set off its incremental sourcing of goods from India for global operations during initial 5 years, beginning 1stApril of the year of the opening of first store against the mandatory sourcing requirement of 30% of purchases from India. For this purpose, incremental sourcing will mean the increase in terms of value of such global sourcing from India for that single brand (in INR terms) in a particular financial year over the preceding financial year, by the non-resident entities undertaking single brand retail trading entity, either directly or through their group companies. After completion of this 5 year period, the SBRT entity shall be required to meet the 30% sourcing norms directly towards its India’s operation, on an annual basis. A non-resident entity or entities, whether owner of the brand or otherwise, is permitted to undertake ‘single brand’ product retail trading in the country for the specific brand, either directly by the brand owner or through a legally tenable agreement executed between the Indian entity undertaking single brand retail trading and the brand owner.
Civil Aviation
As per the extant policy, foreign airlines are allowed to invest under Government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49% of their paid-up capital. However, this provision was presently not applicable to Air India, thereby implying that foreign airlines could not invest in Air India. It has now been decided to do away with this restriction and allow foreign airlines to invest up to 49% under approval route in Air India subject to the conditions that: Foreign investment(s) in Air India including that of foreign Airline(s) shall not exceed 49% either directly or indirectly Substantial ownership and effective control of Air India shall continue to be vested in Indian National. Construction Development: Townships, Housing, Built-up Infrastructure and Real Estate Broking Services
Background:
It has been decided to clarify that real-estate broking service does not amount to real estate business and is therefore, eligible for 100% FDI under automatic route.
Power Exchanges
Extant policy provides for 49% FDI under automatic route in Power Exchanges registered under the Central Electricity Regulatory Commission (Power Market) Regulations, 2010. However, FII/FPI purchases were restricted to secondary market only. It has now been decided to do away with this provision, thereby allowing FIIs/FPIs to invest in Power Exchanges through primary market as well.
Other Approval Requirements under FDI Policy:
As per the extant FDI policy, issue of equity shares against non-cash considerations like pre-incorporation expenses, import of machinery etc. is permitted under Government approval route. It has now been decided that issue of shares against non-cash considerations like pre-incorporation expenses, import of machinery etc. shall be permitted under automatic route in case of sectors under automatic route. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies/ LLP and in the Core Investing Companies is presently allowed upto 100% with prior Government approval. It has now been decided to align FDI policy on these sectors with FDI policy provisions on Other Financial Services. Thus, if the above activities are regulated by any financial sector regulator, then foreign investment upto 100% under automatic route shall be allowed; and, if they are not regulated by any Financial Sector Regulator or where only part is regulated or where there is doubt regarding the regulatory oversight, foreign investment up to 100% will be allowed under Government approval route, subject to conditions including minimum capitalization requirement, as may be decided by the Government.
Competent Authority for examining FDI proposals from countries of concern
As per the existing procedures, FDI applications involving investments from Countries of Concern, requiring security clearance as per the extant FEMA 20, FDI Policy and security guidelines, amended from time to time, are to be processed by the Ministry of Home Affairs (MHA) for investments falling under automatic route sectors/activities, while cases pertaining to government approval route sectors/activities requiring security clearance are to be processed by the respective Administrative Ministries/Departments, as the case may be. It has now been decided that for investments in automatic route sectors, requiring approval only on the matter of investment being from country of concern, FDI applications would be processed by Department of Industrial Policy & Promotion (DIPP) for Government approval. Cases under the government approval route, also requiring security clearance with respect to countries of concern, will continue to be processed by concerned Administrative Department/Ministry.
Pharmaceuticals:
FDI policy on Pharmaceuticals sector inter-alia provides that definition of medical device as contained in the FDI Policy would be subject to amendment in the Drugs and Cosmetics Act. As the definition as contained in the policy is complete in itself, it has been decided to drop the reference to Drugs and Cosmetics Act from FDI policy. Further, it has also been decided to amend the definition of ‘medical devices’ as contained in the FDI Policy.
Prohibition of restrictive conditions regarding audit firms:
The extant FDI policy does not have any provisions in respect of specification of auditors that can be appointed by the Indian investee companies receiving foreign investments. It has been decided to provide in the FDI policy that wherever the foreign investor wishes to specify a particular auditor/audit firm having international network for the Indian investee company, then audit of such investee companies should be carried out as joint audit wherein one of the auditors should not be part of the same network.

Cabinet approves continuation of Members of Parliament Local Area Development Scheme beyond 12th Plan
10 January 2018

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to continuation of Members of Parliament Local Area Development Scheme (MPLADS) till the term of the 14th Finance Commission i.e. 31.03.2020.
Details:
The Scheme would entail an annual allocation of Rs. 3,950 crore and a total outlay of Rs. 11,850 crores over the next three years with an additional annual allocation of Rs. 5 crore per year for monitoring through independent agency(ies) and for capacity building/training to State/District officials to be imparted by the Ministry. The MPLADS funds are released to the nodal District Authorities on receipt of requisite documents and as per provisions of Guidelines on MPLADS.
Impact:
The entire population across the country stands to benefit through creation of durable assets of locally felt needs, namely drinking water, education, public health, sanitation and roads etc., under MPLAD Scheme. The MPLAD Scheme has resulted into creation of various durable community assets which have impacted the social, cultural and economic life of the local communities in one way or the other.
Background:
The MPLAD Scheme is an ongoing Central Sector Scheme which was launched in 1993-94. Since the inception of the Scheme till August, 2017, a total number of 18,82,180 works for Rs. 44,929.17 crore have been sanctioned from MPLADS fund. The Scheme enables the Members of Parliament to recommend works for creation of durable community assets based on locally felt needs to be taken up in their constituencies in the area of national priorities namely drinking water, education, public health, sanitation, roads etc. The Scheme is governed by a set of guidelines, which have been last revised in June, 2016

Cabinet approves agreement between India and Philippines on co-operation and mutual assistance in customs matters
22 November 2017

he Union Cabinet chaired by the Prime Minister 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.
Background:
The Agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries. It would help in the proper application of Customs laws, prevention and investigation of Customs offences and the facilitation of legitimate trade. The draft text of the proposed Agreement has been finalized with the concurrence of the two Customs Administrations. The draft Agreement takes care of Indian Customs' concerns and requirements, particularly in the area of exchange of information on the correctness of the Customs value declared and authenticity of certificates of origin of the goods traded between the two countries

Cabinet approves India's Membership for European Bank for Reconstruction & Development
22 November 2017

The Union Cabinet chaired by the Prime Minister 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.
Impact:
· 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.
Financial Implications:
The minimum initial investment towards the membership of EBRD will be approximately €1 (one) million. However, this assumption is based on India deciding to buy the minimum number of shares (100) required for obtaining the membership. If India were to buy a higher number of Bank shares, the financial implications could be higher. In-principle approval of the Cabinet at this stage is being obtained for joining the Bank.
Background
The issue relating to acquiring the membership of the "European Bank for Reconstruction & Development (EBRD)" had been under consideration of the Government. With the country's impressive economic growth over the years and enhanced international political profile, it was considered appropriate that India should expand its presence on the global developmental landscape beyond its association with the Multi-lateral Development Banks (MDBs) such as the World Bank, Asian Development Bank and African Development Bank. The decision to join the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) was taken earlier in this backdrop.

Cabinet approves signing of India - Russia Agreement on cooperation in combating terrorism and organized crime
22 November 2017

The Union Cabinet chaired by the Prime Minister 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.
Background:
India and Russia have a long history of close cooperation in international fora on matters of mutual interest. With the rise in terrorism and organized crime across the world, it is imperative for countries to work together to combat all forms of terrorism. The proposed Agreement, which will replace the Agreement of October, 1993, is a step towards consolidating the benefits accrued in the field of security and seeks to jointly fight the new and evolving risks and threats. The Agreement would reinforce the relationship between India and Russia through exchange and sharing of information, expertise, best practices and would help in curbing terrorism and enhancing, security in the region.

Cabinet approves continuation of the scheme on Indian Institute of Corporate Affairs beyond the 12th Plan Period
22 November 2017

The Union Cabinet chaired by the 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.
Impact:
· 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.
Background:
The National Foundation for Corporate Social Responsibility (NFCSR) at IICA is responsible for Corporate Social Responsibility (CSR) initiatives. The Foundation has been designed around the new provisions of Companies Act, 2013. The NFCSR conducts various activities in partnership with Corporates in the field of CSR, oriented towards social inclusion. IICA is a think-tank and repository of data and knowledge to support rational decision-making for the policy makers, regulators as well as other stakeholders working in areas related to the corporate sector. It offers services to stakeholders in the field of corporate laws, corporate governance, CSR, accounting standards, investor education, etc. Various activities of IICA also help first-generation entrepreneurs and small business for imparting multi-disciplinary skills as they are unable to afford to employ separate experts in management, law, accountancy, etc

Cabinet approves revisedsalaries, gratuity, allowances and pension for the Judges of the Supreme Court and the High Courts
22 November 2017

The Union Cabinet chaired by the Prime Minister 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.
Background:
Salaries, gratuity, pension, allowances etc. in respect of Judges of Supreme Court are governed by the Supreme Court Judges (Salaries and Conditions of Service) Act, 1958. Salaries etc. of Judges of High Courts are governed by High Court Judges (Salaries and Conditions of Service) Act, 1954. An amendment in the Acts is required whenever there is any proposal for revision of salaries/pension gratuity, allowances etc. in respect of Judges of Supreme Court and High Courts. Therefore, Government proposes to move a Bill in the Parliament in the ensuing Session for amendment in the relevant Acts for giving effect to the revision of salaries and allowances.

Cabinet approves setting up of the 15thFinance Commission
22 November 2017

The Union Cabinet chaired by the Prime Minister 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.
Background:
Article 280(1) of the Constitution lays down that a Finance Commission (FC) should be constituted "...within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President considers necessary...".In keeping with this requirement, the practice has generally been to set up next Finance Commission within five years of the date of setting up of the previous Finance Commission. Fourteen (14)Finance Commissions have been constituted in the past. The 14thFinance Commission was set up on 02.01.2013 to make recommendations covering the period of five years commencing on 1st April, 2015. The Commission submitted its Report on 15th December, 2014. The recommendations of the 14thFinance Commission are valid upto the financial year 2019-20. In terms of Constitutional provisions, setting up the 15thFinance Commission, the recommendations of which will cover the five years commencing on April 1, 2020, has now become due.

Cabinet approves Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises
22 November 2017

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises (CPSEs).
Highlights:
i. 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.
ii. 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.
iii. 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.
iv. 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.
v. 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.
vi. 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.
vii. CPSEs must ensure that any increase in wages after negotiations does not result in increase in administered prices of their goods and services.
viii. 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.
ix. 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.
x. The CPSEs would implement negotiated wages after confirming with their Administrative Ministry/Department that the wage settlement is in conformity with approved parameters.
Background:
There are about 12.34 lakh employees in 320 CPSEs in the country. Out of these, about 2.99 lakh employees are Board level and below Board level executives and non-unionized Supervisors. The remaining about 9.35 lakh employees belong to the unionized workmen category. Wage revision in respect of unionized workmen is decided by trade unions and managements of CPSEs in terms of guidelines issued by the Department of Public Enterprises (DPE) for wage negotiations.

Cabinet approves expansion of umbrella scheme "Mission For Protection And Empowerment For Women" and introducing a new scheme ' Pradhan Mantri Mahila Shakti Kendra'
22 November 2017

The Cabinet Committee on Economic Affairs chaired by the 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 ‘Pradhan Mantri Mahila Shakti Kendra', which will empower rural women through community participation to create an environment in which they realize their full potential. Expansion under Beti Bachao Beti Padhao 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.
Benefits of the Scheme:
The approved sub-schemes are social sector welfare schemes especially for care, protection and development of women. It will also aim at improvement in declining Child Sex Ratio; ensuring survival. & protection of the girl child; ensuring her education, and empowering her to fulfil her potential. It will provide an interface for rural women to approach the government for availing their entitlements and for empowering them through training and capacity building. Student volunteers will encourage the spirit of voluntary community service and gender equality. These students will serve "agents of change" and have a lasting impact on their communities and the nation.
Major activities of the Umbrella Scheme:
The new scheme "Pradhan Mantri Mahila Shakti Kendra (PMMSK)" is envisaged to work at various levels. While, National level (domain based knowledge support) and State level (State Resource Centre for Women) structures will provide technical support to the respective government on issues related to women, the District and Block level Centres will provide support to PMMSK and also give a foothold to BBBP in 640 districts to be covered in a phased manner. Community engagement through Student Volunteers is envisioned in 115 most backward districts as part of the PMMSK Block level initiatives. Student volunteers will play an instrumental role in awareness generation regarding various important government schemes/ programmes as well as social issues. More than 3 lakh student volunteers from local colleges will be engaged in this process, while association with NSS/NCC cadre students will also be an option for contributing to nation building as responsible citizens. This will provide an opportunity to Student Volunteers to participate in the development process by bringing change in their own communities and ensuring that women are not left behind and are equal partners in India's progress. The outcome based activities of student volunteers will be monitored through web based system. On completion, certificates for community service, will be displayed on national portal for verification and can also be used as resource /asset for the participating students in future. Expansion and intensification of efforts have also been approved for Beti Bachao Beti Padhao (BBBP) through sustained nation-wide Advocacy and Media Campaign in 640 districts and focused multi-sectoral action .in selected 405 districts. All low CSR districts shall be taken up in the first year itself under BBBP. To provide support to working women 190 more Working Women Hostels to accommodate approximately 19,000 additional working women will be set up. Additional Swadhar Grehs have been approved to provide relief and rehabilitation of approximately 26,000 beneficiaries. To provide comprehensive support to women affected by violence, One Stop Centres (OSCs) will be established in 150 additional districts during the period. These one stop Centres will be linked with women helpline and will provide 24 hour emergency and non-emergency response to women affected by violence both in public and private space across the country. A unique initiative involving engagement of Manila Police Volunteers (MPVs) on a voluntary basis in States/UTs will. also be done to create public-police interface, which will be expanded to 65 districts covering all States /UTs.
Monitoring and Evaluation of the Scheme:
One common Task Force shall be created at National, State and district level for planning, reviewing and monitoring all the sub-schemes in this Umbrella, with the objective of ensuring convergence of action and cost efficiency. Every scheme shall have a set of clear, focussed target set forth in the guidelines, aligned with SDGs. Mechanism for monitoring of outcome based indicators for all the sub-schemes as suggested by NITI Aayog will be put in place. The schemes will be implemented through the States/UTs and Implementing Agencies. All the sub-schemes have inbuilt monitoring structure at the Central Level, State, District and Block level.

Cabinet approves transfer of Hotel Jaipur Ashok, Jaipur and Lalitha Mahal Palace Hotel, Mysore, units of India Tourism Development Corporation Ltd (ITDC) to Government of Rajasthan and Government of Karnataka, respectively and disinvestment of ITDCs shares in M/s Donyi Polo Ashok Hotel Corporation
21 September 2017

The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Shri Narendra Modi has given its approval to the transfer of Hotel Jaipur Ashok, Jaipur and Lalitha Mahal Palace Hotel, Mysore, units of India Tourism Development Corporation Ltd (ITDC) to Government of Rajasthan and Government of Karnataka, respectively and disinvestment of ITDCs shares in M/s Donyi Polo Ashok Hotel Corporation. As per disinvestment policy of the Government of India, it has been decided to lease/sub-lease the ITDC hotels/ properties jointly with the States and where States have not agreed to the proposal of leasing/sub-leasing, the properties may be returned back to the States at their officially valued price. The policy has been formulated keeping in view that running and managing hotels on professional lines is not the job of Government or its entities. In pursuance of the disinvestment policy of the Government, the Ministry of Tourism has to date transferred the properties/units of Hotel Lake View Ashok, Bhopal, Hotel Brahmaputra Ashok, Guwahati, Hotel Bharatpur Ashok, Bharatpur to the concerned State Governments. In addition, ‘in principal’ approval for transfer of Hotel Janpath, New Delhi to Ministry of Urban Development, Government of India has also been accorded by the CCEA. In continuation of the aforesaid disinvestment policy of the Government, the CCEA has decided to further disinvestment by way of transfer of properties of Hotel Jaipur Ashok, Jaipur and Hotel Lalitha Mahal Palace, Mysore, units of ITDC to the State Governments of Rajasthan and Karnataka respectively. Further, CCEA has also decided that ITDC would disinvest its 51% equity shares in M/s Donyi Polo Ashok Hotel Corporation Ltd., the joint venture company running Hotel Donyi Polo Ashok, Itanagar, in favour of the Government of Arunachal Pradesh.

Cabinet approves increase of cost norms for Supplementary Nutrition provided in Anganwadis and in the Scheme for Adolescent Girls Cabinet also approves annual cost indexation for increase in rates in future
21 September 2017

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, has approved the proposal for revision of cost norms with annual cost indexation for Supplementary Nutrition (SN) for the beneficiaries of Anganwadi Services and Adolescent Girls (out of school 11-14 years) under the Umbrella ICDS Scheme. This addresses a long standing anomaly and ensures that the changes in norms keeps pace with changes in costs on an annual basis. This follows the decision by the Government to provide cash benefits to pregnant and lactating mothers under the Pradhan Mantri Matru Vandana Yojana, and is part of an intensive effort to improve the nutritional status of women and children. The revision of cost norms for SN for beneficiaries of Aanganwadi Services would cost additional expenditure of Rs.9,900 crore and for beneficiaries of Adolescent Girls, it would cost Rs.2,267.18 crore as GoI share for a period from 2017-18 to 2019-20. The revision in the cost norms of SN for the beneficiaries of Anganwadi Services and Adolescent Girls would impact the health and nutritional status of about 11 crore beneficiaries per annum.

Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan
21 September 2017

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of the Ministry of Home Affairs for extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K)- Udaan till 31st December, 2018 without any modification and cost escalation. Initially the time period of Udaan was upto 2016-17. Udaan provides exposure to the youth of J&K to the best of corporate India and corporate India to the rich talent pool available in the State. So far, 109 leading Corporate have partnered with National Skill Development Corporation (NSDC) under UDAAN with a commitment to train youth from the State covering Organized Retail, Banking, Financial Services, IT, ITES, Infrastructure, Hospitality etc. So far, 34,587 candidates have been selected of whom 31,903 candidates have joined, 22,237 candidates have completed the training, 7,649 are undergoing training and 14,694 have been offered jobs. In spite of four months of unrest, the scheme has gained a good momentum and pace of implementation has been the best during FY 2016-17 since its inception. More than 12,000 candidates had joined training and nearly 10,000 candidates were offered jobs. 140 mega selection drives were held so far covering all districts of the State. Udaan is a national integration scheme with the goal to mainstream J&K youth with rest of the country. The scheme not only provides skill enhancement and job opportunity but also connects these bright youths from the J&K with the vibrant corporate sector of India.

Cabinet approves Memorandum of Understanding by the Election Commission of India with the Election Management Bodies of other countries/International Agencies
30 August 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the proposal of the Election Commission of India to enter into Memorandum of Understanding (MoU) on cooperation in the field of electoral management and administration with the Election Management Bodies of other countries/International Agencies. These are as follows:
i. The National Electoral Council of Ecuador;
ii. The Central Election Commission of Albania;
iii. The Election Commission of Bhutan;
iv. The Independent Election Commission of Afghanistan;
v. The National Independent Electoral Commission of Guinea;
vi. The Union Election Commission of Myanmar; and
vii. The India International Institute of Democracy and Election Management (IIIDEM) and the International Institute for Democracy and Electoral Assistance (International IDEA). These MoUs contain standard articles/clauses which broadly express promotion of cooperation in exchange of knowledge and experience in the field of organizational and technical development of electoral process; support in exchanging information, institutional strengthening and capacity building, training of personnel, holding regular consultations etc. These MoUs would promote bilateral cooperation, aimed at building technical assistance / capacity support for the said Election Management Bodies.
Background: The Election Commission has been participating in promoting cooperation in the field of election matters and electoral processes across the world with certain foreign countries and agencies by adopting the mode of MoU signed by the concerned parties. The Election Commission, a constitutional body, conducts the largest electoral exercise in the world. It is the responsibility of the Election Commission to organize free and fair election in the country of about 85 crore voters with diverse socio-political and economic backgrounds. In recently years, the role being played by the Election Commission ensures greater participation of people in political affairs. India, today, is considered as the world’s largest democratic country. The success of democracy in India has attracted the attention of almost every political system around the world.

Cabinet approves MoU with Myanmar for the Conservation of Earthquake-Damaged Pagodas at Bagan
30 August 2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) between India and Myanmar for the conservation of earthquake-damaged pagodas at Bagan, Myanmar. The MoU will be signed during the visit of the Prime Minister Shri Narendra Modi to Myanmar during 6-7 September 2017. Implementation of the project will further strengthen India’s enduring ties in culture and religion with Myanmar. It will also generate immense goodwill for India among the people of Myanmar due to the religious significance as well as the touristic significance of the project. It will also contribute to India’s development partnership with Myanmar. Bagan is one of the premier tourist attractions of Myanmar. It will be an opportunity to showcase India’s expertise in the restoration and conservation of monuments not only to the people of Myanmar but also to the tourists from other countries.

Cabinet approves promulgation of the Goods and Services Tax (Compensation to States) Ordinance, 2017
30 August 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the proposal of the Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval would allow to increase the maximum rate at which the Compensation Cess can be levied from 15% to 25% on:
a) motor vehicles for transport of not more than thirteen persons, including the driver [falling under sub-headings 870210, 8702 20, 8702 30 or 8702 90]; and
b) motor vehicles falling under headings 8703.
The GST Council, in its meeting held in August 2017, taking into consideration the fact that post introduction of GST, the total incidence on motor vehicles [GST+ Compensation Cess] has come down vis-a-vis pre-GST total tax, incidence, and had recommended increase in the maximum rate at which Compensation Cess can be levied on motor vehicles falling under headings 8702 and 8703 from 15% to 25%. The issue regarding the increase in effective rate of Compensation Cess on motor vehicles will be examined by the GST Council in due course.

Cabinet approves MoU on "India-Israel Industrial R&D and Technological Innovation Fund"
30 August 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved a Memorandum of Understanding (MoU) between India and Israel on "India-Israel Industrial R&D and Technological Innovation Fund (I4F)". The MoU was concluded in July, 2017 India and Israel will make an contribution of four million US Dollars each for the Fund, both equivalent amount, annually for five years. The Innovation Fund will be governed by a joint Board which will consist of four members from each country. The MoU envisages promotion of bilateral Industrial R&D and Innovation cooperation in the fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, services or processes. Such projects will lead to affordable technological innovations in focus areas of mutual interest such as water, agriculture, energy and digital technologies. Institutional support in building up consortia including private industry, enterprises and R&D institutions from India and Israel will be enabled through these collaborative projects. The activities supported by the Joint Fund would increase the techno-economic collaboration between the two countries by investing in jointly developed technology projects and collaborations based on technological innovation. It would leverage the complementary strengths of Israel and India to encourage Israel-Indian joint projects that capitalize on both the national and global marketplace. It would provide a comprehensive set of support tools to encourage joint projects that convert "know-how" into "show-how". It is expected that this will foster and strengthen the eco-system of innovation and techno-entrepreneurship in India and will contribute directly to the Start-up India programme.

Cabinet approves MoU between India and Brazil for cooperation in the fields of Zebu Cattle Genomics and Assisted Reproductive Technologies
30 August 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi was apprised of Memorandum of Understanding (MoU) signed between India and Brazil for cooperation in the fields of Zebu Cattle Genomics and Assisted Reproductive Technologies. The MoU was signed in October, 2016. The MoU will strengthen the existing friendly relations between India and Brazil and promote development of Genomics and Assistant Reproductive Technologies (ARTs) in Cattle through joint activities to be implemented through mutually agreed procedures. An implementation committee shall be created with an equal number of representatives of each party for the purpose of regularly determining the activities and developing work plans and subsequently their evaluation. It will be done through joint projects in the fields of Productivity Improvement of cattle and buffaloes, for the purpose of broadening the existing knowledge base on sustainable dairy development and institutional strengthening. The MoU would promote and facilitate scientific cooperation and setting up of genomic selection programme in Zebu Cattle through (a) application of genomic in Zebu Cattle and their crosses and buffaloes (b) application of assisted reproductive technologies (ARTs) in cattle and buffaloes (c) capacity building in genomic and assisted reproductive technology (d) Related research and development in Genomics and ART in accordance with the respective laws and regulations of the two countries and is covered under Rule 7 (d) (i) of the Second Schedule of the Government of India (Transaction of Business) Rules, 1961

Cabinet apprised of jointly issue of postage stamps between India and Canada
30 August 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi was informed today that India and Canada have mutually agreed to jointly issue a set of two Commemorative Postage Stamps on India-Canada: Joint Issue on the theme "Diwali". The joint stamps will be released on 21st September, 2017. A Memorandum of Understanding (MoU) has already been signed signed between Department of Posts and Canada Post for this joint issue. India and Canada have a longstanding close relationship, based on shared values of democracy, pluralism, equality for all and rule of law. Strong people-to-people contacts and the presence of a large Indian Diaspora in Canada provide a strong foundation for the relationship. In this joint issue, the theme "Diwali" has been selected as it is a cultural theme for both the countries and also considering the large presence of Indian Diaspora in Canada.

Cabinet approves equivalence of posts in Central Public Sector Undertakings (PSUs), Banks, Insurance Institutions with Posts in Government so that the children of those serving in lower categories in PSUs and other institutions can get the benefit of OBC reservations
30 August 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the norms for establishing equivalence of posts in Government and posts in PSUs, PSBs etc. for claiming benefit of OBC reservations. This addresses an issue pending for nearly 24 years. This will ensure that the children of those serving in lower categories in PSUs and other institutions can get the benefit of OBC reservations, on par with children of people serving in lower categories in Government. This will also prevent children of those in senior positions in such institutions, who, owing to absence of equivalence of posts, may have been treated as non Creamy Layer by virtue of wrong interpretation of income standards from cornering government posts reserved for OBCs and denying the genuine non creamy layer candidates a level playing field. The Union Cabinet also approved the increase in the present income criterion of Rs. 6 lakh per annum for applying the Creamy Layer restriction throughout the country, for excluding Socially Advanced Persons/Sections (Creamy Layer) from the purview of reservation of Other Backward Classes (OBCs). The new income criterion will be Rs. 8 lakh per annum. The increase in the income limit to exclude the Creamy Layer is in keeping with the increase in the Consumer Price Index and will enable more persons to take advantage of reservation benefits extended to OBCs in government services and admission to central educational institutions. These measures are a part of the Government's efforts to ensure greater social justice and inclusion for members of the Other Backward Classes. The Government has already introduced in Parliament, a bill to provide Constitutional status to the National Commission for Backward Classes. It has also decided to set up a Commission, under section 340 of the Constitution, to sub categorize the OBCs, so that the more backward among the OBC communities can also access the benefits of reservation for educational institutions and government jobs. All these decisions, taken together, are expected to ensure greater representation of OBCs in educational institutions and jobs, while also ensuring that the more under-privileged within the category are not denied their chance of social mobility.
Background: In its judgment dated 16.11.1992 in WP(C) 930/1990 (IndraSawhney case) the Supreme Court had directed the Government to specify the basis, for exclusion of socially and economically advanced persons from Other Backward Classes by applying the relevant and requisite socio-economic criteria. An Expert Committee was constituted in February 1993 which submitted its report on 10.03.1993 specifying the criteria for identification of socially advanced persons among OBCs i.e. the Creamy Layer. The report was accepted by the then Ministry of Welfare and forwarded to DoPT which issued an OM dated 08.09.1993 on exclusion from the Creamy Layer. The OM of 08.09.1993 specifies six categories for identifying Creamy Layer (a) Constitutional/Statutory post (b) Group ‘A’ and Group ‘B’ Officers of Central and State Governments, employees of PSUs and Statutory bodies, universities, (c) Colonel and above in armed forces and equivalent in paramilitary forces (d) professionals like Doctors, Lawyers, Management Consultants, Engineers etc. (e) Property owners with agricultural holdings or vacant land and/or buildings and (f) income/wealth tax asessee. The OM further stipulates that the said parameters would apply mutatis mutandis to officers holding equivalent or comparable posts in PSUs, Banks, Insurance Organizations, Universities, etc. and Government was required to determine equivalence of positions in these organizations with those in Government. Pending the equivalence to the established in these institutions Income criteria would apply for the officers in these Institutions. However, this exercise of determining the equivalence of posts in Government and posts in PSUs, PSBs etc. had not been initiated. The determination of equivalence of posts has been thus pending for almost 24 years. The matter of formulating equivalence has since been examined in detail. In PSUs, all Executive level posts i.e. Board level executives and managerial level posts would be treated as equivalent to group 'A' posts in Government and will be considered Creamy Layer. Junior Management Grade Scale–1 and above of Public Sector Banks, Financial Institutions and Public Sector Insurance Corporations will be treated as equivalent to Group 'A' in the Government of India and considered as Creamy Layer. For Clerks and Peons in PSBs, FIs and PSICs, the Income Test as revised from time to time will be applicable. These are the broad guidelines and each individual Bank, PSU, Insurance Company would place the matter before their respective board to identify individual posts.