Question: On 24 February 2016 Union Cabinet has given its approval for establishment of Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog. The headquarter of ATAL Innovation Mission (AIM) is scheduled at-
(a) New Delhi
(b) Mumbai
(c) Ahemdabad
(d) Hyderabad
Ans (a)
Related facts:
- On 24 February 2016 the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for establishment of Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog.
- Establishment of AIM and AIM Directorate would result in implementation of Mission activities in a focused manner. This would be a focal point for innovation and entrepreneurship in the country.
- The Mission would be guided by a Mission High Level Committee (MHLC) which will take all decisions relating to approval of requisite guidelines including Grand Challenge areas, prize money and implementation of various elements of AIM and SETU.
- The headquarter of the Mission will be New Delhi.
- With a view to give substantial boost to the innovation ecosystem and to catalyze the entrepreneurial spirit in the country, Finance Minister in his Budget Speech 2015-16 announced to establish the Atal Innovation Mission (AIM) and a mechanism to be known as SETU in NITI with an initial sum of Rs. 500 crore and Rs. 1000 crore respectively.
- As a follow up of Budget announcement, NITI Aayog constituted an Expert Committee on Innovation and Entrepreneurship under the Chairmanship of Prof. Tarun Khanna, Director, South Asia Institute, Harvard University, USA to work out detailed contours of AIM and SETU.
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