Prime Minister Shri Narendra Modi has approved National Capital Goods Policy 2016.
- First ever policy for Capital Goods sector
Objectives:
- Increasing production of capital goods from 2,30,000 crore in 2014-15 to Rs.7,50,000 crore in 2025
- Raising direct and indirect employment from the current 8.4 million to 30 million
- The policy forecasts increasing exports from the current 27 % to 40 % of production
- Increase the share of domestic production in India’s demand from 60 % to 80 %
Aims:
- To facilitate improvement in technology depth across sub-sectors
- Increaseskill availability
- Ensure mandatory standards
- Promote growth and capacity building of MSMEs
Making Vision:
- The Policy tend to realising the vision of ‘Building India as the World class hub for Capital Goods’
- Play a pivotal role in overall manufacturing as a basement to the vision of ‘Make in India’.
Initiator:
Presented by the Dept. of Heavy Industry to the Prime Minister in the ‘Make in India’ workshop held in December, 2014
The aim of the policies:
- Game changing strategies for the capital goods sector
- Availability of finance, raw material, innovation and technology, productivity
- Quality and environment friendly manufacturing practices
- Promoting exports and creating domestic demand
Cabinet gives ex-post facto approval to establishment of the National Institute of Technology, Andhra Pradesh
The Union Cabinet arranged ex-post facto approval for establishment of NIT, Andhra Pradesh which has been registered as a Society under the Andhra Pradesh Societies Registration Act, 2001 with effect from 20th August 2015
Bill: National Institutes of Technology, Science Education and Research (Amendment) Bill, 2016
Purpose: Inclusion of the NIT, Andhra Pradesh in its First Schedule
Funded by: Government of India
Managed by: Society registered under the Andhra Pradesh Societies Registration Act, 2001