Page 30 - NIS English 16-30 Sep 2024.pdf

Cabinet Decisions

Unified Pension Scheme (UPS)

and Bio E-3 Policy approved

Taking a landmark decision, the Union Cabinet has approved the proposal of a Unified
Pension Scheme (UPS) for government employees. It promises a fixed pension
for central government employees. While this scheme will benefit lakhs of central
government employees, they and their families will get financial security. With the
approval of this scheme, the central government reiterated its commitment towards
the financial security of the central government employees who are the backbone
of the country's governance. Along with this, the Cabinet approved many important
proposals including Bio E-3 Policy, Vigyan Dhara Yojana...

DECISION: The Cabinet approved the proposal of the IMPACT: This policy will further strengthen the
Unified Pension Scheme (UPS) to reform the National government's initiatives like 'Net Zero' carbon economy
Pension System (NPS) for central employees. and 'Lifestyle for Environment'. It will also accelerate
IMPACT: Assured pension of 50 per cent of the India's move on the path of 'green development' by
average basic salary received in the last 12 months promoting a 'circular bio-economy'. The Bio E-3 policy
before retirement for a minimum service of 25 years. will promote and advance a future that will be more
Minimum pension of Rs 10,000 per month to those sustainable, innovative, and responsive to global
who serve at least 10 years. As a family pension, the challenges.
spouse will be given an amount equal to 60 percent of
the pension. Dearness relief will be given on assured DECISION: Approval to continue three broad schemes
pension, minimum pension and family pension. Apart of the Department of Science and Technology which
from this, a lump sum amount will also be provided at were merged into an integrated central sector scheme
the time of retirement. called 'Vigyan Dhara'.
IMPACT: The primary objective of the 'Vigyan
DECISION: Approval of the proposal of 'Bio E-3 Dhara' scheme is to promote research, innovation
(Biotechnology for Economy, Environment and and technology development along with capacity
Employment) Policy' of the Department of Biotechnology building in science and technology towards
to promote high-performance bio manufacturing. strengthening the ecosystem related to science,

28 New India Samachar September 16-30, 2024