Union Cabinet today approved setting up of a National Academic Depository(NAD) for school learning certificates, degrees and other academic awards of Higher Education Institutions, on the pattern of a Securities Depository. <br/><br/>It aims at bringing another dimension and enhancement of the vision of Digital India . The NAD will be established and operationalised within the next three months and rolled out throughout the country in 2017-18.<br/><br/>Under it, academic institutions will be responsible for the authenticity of data digitally uploaded by them into the system. The depositories will ensure the integrity of the data in the NAD. The NAD will register educational institutions, boards, students and other users as well as verifying entities like banks, employer companies, government agencies and academic institutions. <br/><br/>It will provide digital or a printed copy of the academic award with security features to the students or other authorized users. The NAD will verify academic awards online on the same day of request initiated by any authorized user. In his Budget Speech, Finance Minister had incorporated this commitment to establish a Digital Depository.<br/><br/>Union Cabinet also approved the budgetary support to HMT Ltd. for payment of outstanding salary and wages and related dues of its employees. It also approved closure of HMT Tractor Division by offering attractive Voluntary Retirement Scheme and Voluntary Separation Scheme at 2007 notional pay scales.<br/><br/>It will involve a financial implication of around 719 crore rupees. The Cabinet has also given its approval for transfer of selected small parcels of HMT land at Banglore and Kochi to different Government entities for their use in larger public interest.<br/><br/>The Cabinet also gave its ex-post facto approval for establishment and operationalization of new Indian Institute of Science Education and Research at Berhampur, Odisha. The establishment of the Institute at temporary campus from the Academic Year 2016-17 will involve a cost of over I52 crore rupees for the initial three years.<br/><br/>Union Cabinet also approved signing and ratification of an Agreement between India and Estonia on the transfer of sentenced persons. The agreement will facilitate the Indian prisoners imprisoned in Estonia or vice-versa to be near to their families for serving remaining part of their sentence and facilitate their social rehabilitation.<br/><br/>In an another decision, the Cabinet cleared the new Agreement on Trade, Commerce and Transit between India and Bhutan. The agreement provides for a free trade regime between the two countries as well as a duty free transit of Bhutanese merchandise for trade with third countries.<br/><br/>Besides, the Cabinet approved exchanging of land between Airports Authority of India,AAI and Government of Odisha for widening of road at Biju Patnaiak Airport, Bhubaneshwar. The State Government has offered 1.6 acres of land in lieu of 1.6 acres land of AAI and agreed to undertake and relocate all the existing infrastructure of AAI on the subject land on its own cost.

Union Cabinet today approved setting up of a National Academic Depository(NAD) for school learning certificates, degrees and other academic awards of Higher Education Institutions, on the pattern of a Securities Depository. <br/><br/>It aims at bringing another dimension and enhancement of the vision of Digital India . The NAD will be established and operationalised within the next three months and rolled out throughout the country in 2017-18.<br/><br/>Under it, academic institutions will be responsible for the authenticity of data digitally uploaded by them into the system. The depositories will ensure the integrity of the data in the NAD. The NAD will register educational institutions, boards, students and other users as well as verifying entities like banks, employer companies, government agencies and academic institutions. <br/><br/>It will provide digital or a printed copy of the academic award with security features to the students or other authorized users. The NAD will verify academic awards online on the same day of request initiated by any authorized user. In his Budget Speech, Finance Minister had incorporated this commitment to establish a Digital Depository.