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Cabinet Approvals with Foreign Countries on November 25, 2020

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Cabinet-Approvals-with-Foreign-Countries-on-November-25,-2020The Union Cabinet chaired by Prime Minister (PM) Narendra Modi has approved the following approvals on November 25, 2020, which were detailed by Union Minister Prakash Keshav Javadekar during a press conference.

Cabinet approves MoU on Cooperation in Physical Culture and Sport among BRICS Countries

The Central Government has approved  the Memorandum of Understanding (MoU) signed between BRICS (Brazil, Russia, India, China and South Africa) countries on cooperation in the field of physical culture and sports. It was apprised by the Ministry of Youth Affairs and Sports (MYAS) for strengthening of bilateral relations with BRICS member countries.

  • This MoU will expand the Cooperation between five countries in expanding knowledge and expertise in the area of sports science, sports medicine, coaching techniques etc.
  • This cooperation will further improve the performance of sportspersons in international tournaments.

About Ministry of Youth affairs and Sports (MYAS):
Minister of State (MoS)-Independent Charge (I/C)– Kiren Rijiju
Departments– Department of Youth Affairs and Department of Sports

About BRICS (Brazil, Russia, India, China and South Africa):

BRICS nations represent about 42% of the population, 23% of GDP, 30% of the territory and 18% of the global trade.

Chairman – Russia (2020), India will assume chairmaship in 2021

Russia Presidency Theme– BRICS partnership for Global Stability, Shared Security and Innovative Growth

Cabinet approves MoU between ICAI and Vereniging van Registercontrollers (VRC), the Netherlands

The Union Cabinet also approved the signing of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Vereniging van Register controllers(VRC), the Netherlands for strengthening and development of the Accounting, Financial and Audit Knowledge Base between the Netherlands and India.

  • This MoU will help in generating greater employment opportunities for Indian Chartered Accountants (CAs).

Features of MoU:

–ICAI and VRC will work together to hold and conduct Technical Events, Seminars, Conferences in the Netherlands

–Both sides will cooperate in respect of Member Management, Professional Ethics, Technical Research, Continuing Professional Education; Professional Accountancy Training, Education and Examinations, as well as the Institutional Capacity Building of the Accountancy profession.

–Short term professional courses regarding Accounting, Finance, Information Technology (IT) and Audit will be offered in the Netherlands.

–There will be Students and Faculty Exchange programmes along with sharing available unrestricted information about accountancy profession between both nations and internationally when required.

About Institute of Chartered Accountants of India (ICAI):

It is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India.

ICAI has a strong membership base of over 1500 members in the European region and around 80 members in the Netherlands.

President– CA. Atul Kumar Gupta
Headquarter– New Delhi

About The Netherlands:
Capital– Amsterdam
Currency– Euro

Recent Related News:

i. The Union Cabinet gave its approval for signing a memorandum of cooperation (MoC) between India and Japan in the field of Information and Communication Technologies (ICTs) to promote human capacity building and further development of the startup ecosystem.