Cabinet approves Action Plan for Champion Sectors in Services

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal of the Department of Commerce to give focused attention to 12 identified Champion Services Sectors for promoting their development, and realizing their potential. These include Information Technology & Information Technology enabled Services (IT & ITeS), Tourism and Hospitality Services, Medical Value Travel, Transport and Logistics Services, Accounting and Finance Services, Audio Visual Services, Legal Services, Communication Services, Construction and Related Engineering Services, Environmental Services, Financial Services and Education Services.

The Cabinet has also directed the Ministries/Departments concerned with these sectors to utilize the available draft sectoral plans to finalize and implement the Action Plans for the identified Champion Services Sectors. The respective line Ministries/Departments shall finalize the Action Plans and the implementation timelines along with a monitoring mechanism to monitor implementation under the overall guidance of the Committee of Secretaries (CoS) under Cabinet Secretary.

A dedicated fund of Rs. 5000 crores has been proposed to be established to support initiatives for sectoral Action Plans of the Champion Sectors.

Powered by Capital Market - Live News