Cabinet grants extension of funding scheme for IICA till 2019-20

The Union Cabinet on Wednesday approved the continuation of the funding scheme for Indian Institute of Corporate Affairs (IICA) for another three financial years. It also approved grants-in-aid of ₹18 crore to the institute from 2017-18 to 2019-20.

An official statement said that this will make the institute self-sustainable by the end of 2019-20.

It is envisaged that IICA will be an ‘Institute of National Importance’, becoming an engine of growth leading to increased economic activity, the statement added.

Scheme for rural women The Cabinet Committee on Economic Affairs on Wednesday approved a new scheme — Mahila Shakti Kendra — to empower rural women, earmarking an outlay of ₹3,636.85 crore, with a Central share of ₹3,084.96 crore during the period 2017-18 to 2019-20.

It also approved the expansion of umbrella scheme on women’s protection and empowerment for the period 2017-18 to 2019-20.

The objectives of the scheme include improvement in child sex ratio, ensuring survival, protection and education of the girl child, to provide an interface to rural women to utilise entitlements, an official release said.

The scheme also envisages engaging student volunteers for community service and serve as “agents of change”, the release added.

Pact with Russia An agreement on cooperation between India and Russia in the field of combating all forms of terrorism and organised crime was also cleared by the Cabinet. The agreement is proposed to be signed during the upcoming visit of the Indian delegation, led by Home Minister Rajnath Singh, to Russia from November 27 to 29.

The signing and ratifying of an agreement between India and the Philippines on co-operation and mutual assistance in customs matters was also approved by the Cabinet.

An official statement said that the agreement would 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.

EBRD membership The Cabinet also approved India’s membership for the European Bank for Reconstruction and Development (EBRD). An official statement said that necessary steps would be initiated by the Department of Economic Affairs, Ministry of Finance, to acquire the membership of the EBRD.