Cabinet Approves Budget To Incentivise Digital Transactions, PM Krishi Sinchayee Yojana

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New Delhi: The Union Cabinet on Wednesday made some key announcements including a scheme to provide incentives to encourage digital transactions through RuPay Debit Card and BHIM UPI of small amounts.

It also approved a budget of Rs 76,000 crore for designing and manufacturing semiconductor chips in India.

The announcements were made by Union Information and Broadcasting Minister Anurag Thakur during a press conference after the Cabinet meeting.

List Of Announcements Made By Union Cabinet Today:

Scheme To Encourage Digital Transactions:

“A scheme has been approved to provide incentives to encourage digital transactions through RuPay Debit Card and BHIM UPI of small amounts. It will incur an expense of around Rs 1,300 Crores,” Thakur said while making the announcement.

Implementation Of Pradhan Mantri Krishi Sinchayee Yojana

The government has also approved the implementation of Pradhan Mantri Krishi Sinchayee Yojana for 2021-2026. Union Minister Gajendra Singh Shekhawat, while making the announcement, said that the scheme will benefit about 22 lakh farmers across the country.

Pradhan Mantri Krishi Sinchai Yojana is a national scheme initiated to improve farm productivity and ensure better utilization of the resources in the country.

Program For Development Of Semiconductors And Display Manufacturing Ecosystem

The government has also approved an ambitious project to establish a complete ecosystem of semiconductors and display manufacturing has been sanctioned. Rs 76,000 crores will be spent on this project in 6 years.

“We have reached $75 billion electronics manufacturing today. Seeing the pace at which the sector is growing, India will reach $300 Billion in electronics manufacturing in next 6 years,” Union IT minister Ashwini Vaishnaw said.

He also informed that around 20 per cent of the engineers in the semi-conductor industry in the world are from India. The Cabinet has taken a decision today to design a C2S (Chips to Startup) program for 85,000 highly trained and qualified engineers.

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