05 May 2021: PIB Summary & Analysis

May 5th, 2021, PIB:- Download PDF Here

TABLE OF CONTENTS

1. Global Innovation Partnership
2. MoU between India and the UK
3. Social Security Code, 2020

1. Global Innovation Partnership

Context:

Cabinet gives ex-post facto approval to MoU between India and UK on Global Innovation Partnership (GIP).

Details:

• GIP will support Indian innovators to scale up their innovations in third countries thereby helping them explore new markets and become self-sustainable. It will also foster the innovative ecosystem in India. GIP innovations will focus on Sustainable Development Goals (SDG) related sectors thereby assisting recipient countries achieve their SDGs.
• Through seed funding, grants, investments and technical assistance, the Partnership will support Indian entrepreneurs and innovators to test, scale up and take their innovative development solutions to select developing countries.
• The innovations selected under GIP would accelerate the achievement of Sustainable Development Goals and benefit the base of the pyramid populations thus promoting equity and inclusivity in recipient countries.
• GIP will also develop an open and inclusive e-market place (E-BAAZAR) for cross border innovation transfer and will focus on results based impact assessment thereby promoting transparency and accountability.

2. MoU between India and the UK

Context:

The Cabinet has approved the signing of a Memorandum of Understanding (MoU) on Migration and Mobility Partnership between India and the United Kingdom.

Objectives of the MoU:

• The MoU is aimed at liberalising issuance of visas promoting mobility of students, researchers and skilled professionals and strengthen cooperation on issues related to irregular migration and human trafficking between the two sides.

Benefits:

• The MoU would benefit Indian students, academics, and researchers, migrants for professional and economic reasons and those willing to contribute through various projects to the economic development of both countries without consideration of caste, creed, religion or gender.
• This MoU can support the innovation ecosystem in both countries by facilitating free flow of talent.

3. Social Security Code, 2020

Context:

Section 142 of the Social Security Code, 2020 notified.

Details:

• Section 142 of the Social Security Code, 2020 has been notified by the Ministry of Labour & Employment covering the applicability of Aaadhar.
• The notification of the section will enable the Ministry to collect Aaadhar details for the database of beneficiaries under various social security schemes.

Know more about the Social Security Code in the article Labour Reforms – Labour Codes.

Read previous PIB here.

May 5th, 2021, PIB:- Download PDF Here