Union Cabinet approves highest ever Fair and Remunerative Price for Sugarcane Farmers

Tags: Economy/Finance National News

The Union Cabinet on 28th June has approved a fair and remunerative price of 315 rupees per quintal for sugarcane farmers for the season 2023-24. 

An overview of the news

• This decision is aimed at benefiting five crore sugarcane farmers and their dependents, as well as five lakh workers employed in the sugar mills and related ancillary activities. 

• It is important to note that this price is the highest ever offered to sugarcane farmers, demonstrating the government's commitment to supporting the agricultural sector.

National Research Foundation (NRF) Bill, 2023

• The government has decided to introduce the NRF Bill, 2023, which aims to strengthen the research ecosystem in the country. 

• The Union Cabinet has approved this bill, which will establish the NRF as an apex body responsible for seeding, growing, and promoting research and development. 

• The bill intends to foster a culture of research and innovation throughout India's universities, colleges, and research institutions.

Objectives of NRF

• The NRF will provide high-level strategic direction for scientific research in India. 

• Over the next five years, the NRF is expected to receive a total estimated cost of 50 thousand crore rupees. 

• By repealing the Science and Engineering Research Board (SERB) established in 2008, the NRF will take on an expanded mandate, covering activities beyond those of SERB. 

• This will enable the NRF to forge collaborations among industry, academia, government departments, and research institutions.

Collaboration and Participation

• The NRF will create an interface mechanism to facilitate the participation and contribution of industries, state governments, scientific ministries, and line ministries in research activities. 

• By encouraging collaboration between different stakeholders, such as industry, academia, and government, the NRF aims to enhance the impact of scientific research and promote innovation.