Union Cabinet Approvals – October 13 2016

Union Cabinet lead by Prime Minister Narendra Modi has approved several agreements , MoUs and Projects between different countries and institutions on October 13 2016.

Cabinet approved MoU between Exim Bank on General Cooperation with NDB, along with other Development Financial Institutions of BRICS nations 

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi had given its approval for signing of a Memorandum of Understanding (MoU) on General Cooperation with New Development Bank (NDB) through the BRICS Interbank Cooperation Mechanism by Government at the level of Secretary, Department of Economic Affairs/ Export Import Bank of India.

• The proposal would enhance trade and economic relations among the BRICS countries. There was no financial implication involved with signing of the MoU.
• The MoU is a non-binding umbrella agreement aimed at establishing a cooperation framework in accordance with the national laws and regulations, besides skills transfer and knowledge sharing amongst the signatories
• Five banks from the BRIC nations had established the BRICS Interbank Co-operation Mechanism to enhance trade and economic relations amongst the BRICS countries, and enterprises. The BRICS Interbank Co-operation Mechanism proposed to sign a Memorandum of Understanding (MOU) on General Co-operation with the New Development Bank.

Cabinet apprised of the MoU between India and Qatar on cooperation in the field of Youth and Sports

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi had been apprised of the Memorandum of Understanding (MoU) signed on April 7, 1999.

• The First Executive Programme for MOU signed with Qatar on bilateral cooperation in the field of Youth and Sports signed on the month of june.
• The MoU would help in expanding knowledge and expertise in the areas of sports science, sports medicine and coaching techniques. This would result in improvement in performance of our sports persons in international tournaments and strengthening of bilateral relations between India and Qatar.
• It would be equally applicable to all sports persons irrespective of their caste, creed, region, religion and gender.

Qatar:

• Capital: Doha.
• Currency: Qatari riyal.
• Head: Tamim bin Hamad Al Thani

Cabinet approved MoU between India and Hungary on cooperation in the field of water management

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) between India and Hungary on cooperation in the field of water management.

• The MoU would be signed between Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India and the Ministry of Interior, Government of Hungary.
• Both the countries would get benefited by joint activities and mutual exchange of scientific delegations and experts in the field of water resources development and management.
• The cooperation, particularly on river basin management/ integrated water resources management, efficiency in water supply and irrigation technology innovation and flood & drought management would help improve the socio-economic conditions of the people of both the countries.

Hungary:

• Capital: Budapest.
• Currency: Hungarian forint.
• President: Janos Ader.

Cabinet approves MoU between India and the Russian Federation

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing the Memorandum of Understanding (MoU) between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation.

• The MoU would expand more Bilateral Trade and Economic Cooperation between India and Russian Federation.
• Moscow and New Delhi have maintained a close partnership in a number of spheres, including economy and military and technical cooperation since the 1960s. According to the Russian Export Center, bilateral trade between the two countries reached $9.2 billion in 2015.
  

Cabinet approves establishment of an Indian Institute of Management at Jammu

The Union Cabinet has approved the setting up of an Indian Institute of Management school in Jammu among other approvals that were cleared. The announcement of the establishment of an IIM in Jammu comes as part of PM Narendra Modi’s development package for Jammu and Kashmir.

• The project will involve a cost of Rs.61.90 crore in temporary campus for the initial four years from 2016 to 2020. The student strength intake for this year in the Post Graduate Diploma Programme (PGDP) in Management is 54 which will progressively go up to accumulative student strength of 120 in the 4th year.
• Meanwhile, steps would also be taken up for setting up campus at Jammu and an out-campus in Kashmir region. The Detailed Project Report for the permanent campuses is under preparation and thereafter the process for setting up of the campuses would start.
• The Cabinet also approved formation of an IIM Jammu Society under the Societies Registration Act, 1860. IIM Jammu will be run and managed by the Society with a Board of Governors (BOGs) to be constituted by the Government of India, which will administer the Institute and would be responsible for establishment and operationalisation of the Institute. 

Government approves Rs 1,955-crore road link project

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the construction of a new link between Sahibganj bypass in Jharkhand to Manihari bypass in Bihar, including a four-lane bridge on river Ganga.

• A highway project worth Rs 1,955 crore for construction of a road link between Sahibganj in Jharkhand to Manihari in Bihar, including a bridge on the Ganges, received Cabinet clearance.
• It has been estimated that a total number of 4,076 mandays are required for construction of one kilometre of highway. As such, employment potential of 89,000 (approximately) mandays will be generated locally during the construction period of this stretch.
• The new project highway is a new formation of the missing link at NH-131A to NH-133B connecting Sahibganj in Jharkhandand Manihari in Bihar. At present, there is a missing link between Jharkhand to Bihar as there is no bridge on the Ganga at this point.