Union Cabinet chaired by Prime Minister Narendra Modi on 17 June 2015 approved the transfer of a portion of land of erstwhile National Instruments Limited (NIL) to Defence Research and Development Organisation (DRDO).
The land will be transferred by Jadavpur University in West Bengal to DRDO on long-term lease for establishing a defence research centre namely the Jagadish Chandra Bose Centre for Advanced Technology (JCBCAT).
This will be beneficial for India as Research and Development efforts will result in reduction in import dependence in the strategic sector.
The National Instruments Limited (NIL) was a Central Public Sector Enterprise (CPSE) under the administrative control of the Department of Heavy Industry. As it became sick, its assets, liabilities and manpower were transferred to Jadavpur University with effect from 1 January 2009 under the Board for Industrial and Financial Reconstruction (BIFR) sanctioned revival scheme (SRS).
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 17 June 2015
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.