4th SEPTEMBER 2025 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
Cabinet approves Rs 1500 crore incentive scheme for recycling of essential minerals
- The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved an incentive scheme worth Rs 1500 crore to boost the country's recycling capacity for extraction and production of essential minerals from secondary sources.
- The scheme, which is part of the National Essential Minerals Mission, aims to build indigenous capacity and supply chain resilience in essential minerals. The timeframe for implementation of the scheme is six years from the financial year 2025-26 to the financial year 2030-31. The scheme will provide incentives to the recycling value chain involved in the extraction of essential minerals.
- The incentives for the scheme are expected to develop recycling capacity by at least 270 kilo tonnes per annum. This will result in the production of about 40 kilo tonnes of essential minerals per annum.
- The project is expected to attract an investment of around Rs 8,000 crore and generate 70,000 direct and indirect jobs.
- With a view to strengthening the innovation ecosystem in healthcare, DPIIT, the Department of Domestic Industry and Trade under the Union Ministry of Commerce, has signed a Memorandum of Understanding (MoU) with Pfizer.
- The MoU aims to provide both financial and non-financial support to innovative companies in the pharmaceutical sector. Non-financial support to innovative companies in the pharmaceutical sector will accelerate the journey from labs to market.
- The innovative companies recognized by DPIIT will be provided with a grant of Rs 60 lakh each and will also be provided with 18 months of professional mentorship.
- DPIIT, the Department of Domestic Trade and Industry (DTI) under the Ministry of Commerce, has signed a MoU with ICICI Bank. The MoU is aimed at supporting startups and innovators. ICICI Bank will support startups recognized by DPIIT.
- The scheme, which will implement ICICI Bank’s support programs through the Startup India platform, will provide workshops and marketing opportunities to the startups.
