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Union Cabinet approves Rs 91.97 billion Bio-RIDE scheme

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The Union Cabinet has approved the continuation of the Department of Biotechnology’s (DBT) umbrella schemes, now unified under the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) initiative. The scheme, which includes a new component focused on Biomanufacturing and Biofoundry, has a budget of Rs 91.97 billion for the 15th Finance Commission period (2021-2026). Bio-RIDE aims to strengthen India’s position in biotechnology and biomanufacturing by fostering innovation, promoting bio-entrepreneurship, and bridging the gap between academic research…

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Union Cabinet approves PM E-DRIVE Scheme with Rs 109 billion outlay to boost electric mobility

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The Union Cabinet has approved the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, with a Rs 109 billion budget over two years, aimed at accelerating electric mobility in India. The scheme provides Rs 36.79 billion in subsidies for electric two-wheelers (e-2Ws), three-wheelers (e-3Ws), ambulances, trucks, and other emerging EVs, targeting 2.479 million e-2Ws, 316,000 e-3Ws, and 14,028 e-buses. Buyers will receive demand incentives through an Aadhaar-authenticated e-voucher system. Key allocations include…