Cabinet approves signing of Memorandum of Understanding amongst BRICS Nations on the Regional Aviation Partnership
• The Union Cabinet chaired by the Prime Minister Narendra Modi on July 19, 2018 approved the signing of Memorandum of Understanding (MoU) amongst BRICS Nations on the Regional Aviation Partnership Cooperation. The BRICS nations include Brazil, Russia, India, China and South Africa.
• The main objective of the MoU is that BRICS countries would benefit from the establishment of an institutional framework to cooperate in the field of civil aviation.
• The areas of cooperation include public policies and best practices in regional services, regional airports, airport infrastructure management and air navigation services, technical cooperation between regulatory agencies, innovation, environmental sustainability including deliberation of global initiatives and qualification and training.
• The MoU signifies an important landmark in the civil aviation relations between India and the other BRICS Member States and has the potential to spur greater trade, investment, tourism and cultural exchanges amongst the BRICS Nations.
Cabinet approves MoU between India and Cuba on cooperation in traditional systems of medicine
• The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval for the signing of the Memorandum of Understanding (MoU) between India and Cuba on cooperation in the field of Traditional Systems of Medicine and Homeopathy. The MoU was signed on June 22, 2018.
• The MoU will enhance bilateral cooperation between the two countries in the areas of Traditional Systems of Medicine and Homeopathy. This will be of immense importance to both countries considering their shared cultural heritage.
• The Traditional Systems of Medicine in India comprise Ayurveda, Yoga & Naturopathy, Unani, Siddha, Sowa Rigpa and Homoeopathy. These systems hold tremendous potential in the global health scenario.
Cabinet approves MoU between India and Indonesia on cooperation in pharmaceutical sector
• The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Memorandum of Understanding (MoU) signed between the Central Drugs Standard Control Organization (CDSCO), India and National Agency for Drug and Food Control (BPOM), Indonesia on cooperation in the field of pharmaceutical products, pharmaceutical substances, biological product and cosmetics regulatory functions. The MoU was on signed on May 29, 2018 in Jakarta.
• The MoU will establish a framework for fruitful cooperation and exchange of information between the two countries in matters relating to Pharmaceutical products regulation on the basis for equality, reciprocity and mutual benefit.
• It will also facilitate better understanding between the regulatory authorities of the two countries and facilitate India's export of pharmaceutical products.
• The CDSCO is a Subordinate Office of the Directorate General of Health Services, which is an attached office of the Department of Health and Family Welfare and is the National Regulatory Authority for drugs, medical devices and cosmetics in India. The BPOM regulates these products in Indonesia.
Cabinet approves fresh Mutual Recognition Agreement between ICAI and CPA, Ireland
• The Union Cabinet chaired by Prime Minister Narendra Modi on July 18, 2018 approved the “Mutual Recognition Agreement (MRA)" signed in 2010 and also gave its approval for a fresh MRA between the Institute of Chartered Accountants of India (ICAI) and the Institute of Certified Public Accountants (CPA), Ireland.
• The MoU aims to promote mutual co-operation framework for the advancement of accounting knowledge, professional and intellectual development and positively contributing to the development of the accounting profession in Ireland and India.
• The agreement will provide opportunities to members of both the parties to be exposed to the best practices of two countries and thus expand their scalability to cater to the demand of newer markets.
• The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament of India, The Chartered Accountants Act, 1949', to regulate the profession of Chartered Accountancy in India.
• The Institute of Certified Public Accountants in Ireland (CPA Ireland) is one of the main Irish accountancy bodies comprising 5,000 members and students.
Cabinet approves MoU between ICAI and Bahrain Institute of Banking and Finance
• The Union Cabinet chaired by Prime Minister Narendra Modi has approved Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and Bahrain Institute of Banking and Finance (BIBF), Bahrain to work together to strengthen the accounting, financial and audit knowledge base within Bahrain.
• Under the MoU, ICAI will provide technical assistance to BIBF by reviewing the current curriculum of BIBF related to accounting and finance. It will also recommend the introduction of its CA Course curriculum that will facilitate BIBF students to write ICAI's Examination with an aim to acquire membership of ICAI.
• Further, ICAI will provide technical assistance in holding ICAI's professional examination for qualified BIBF students.
• The MoU will provide an opportunity to the ICAI members to expand their professional horizon and simultaneously it will help ICAI to become an entity to aid strengthen the building of local national capabilities.
Cabinet approves MoU between ICAI and National Board of Accountants and Auditors, Tanzania
• The Union Cabinet chaired by Prime Minister Narendra Modi has approved signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and National Board of Accountants and Auditors (NBAA), Tanzania to establish mutual co-operation framework in the areas of Member Management, Professional Ethics, Technical Research, Continuing Professional Development, Professional Accountancy Training, Audit Quality Monitoring, Advancement of Accounting Knowledge, Professional and Intellectual Development.
• The MoU aims to develop a mutually beneficial relationship in the best interest of ICAI members, students and their organisations.
• It will provide an opportunity to the ICAI members to expand their professional horizons and foster strong working relations between the ICAI & NBAA, Tanzania.
CCEA approves determination of Fair and Remunerative Price payable by Sugar Mills for 2018-19 sugar season
• Keeping in view the interest of sugarcane farmers, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2018-19 at Rs 275 per quintal for a basic recovery rate of 10 per cent, providing a premium of Rs 2.75/qtl for each 0.1 per cent increase in recovery over and above 10 per cent.
• The cost of production of sugarcane for the sugar season 2018-19 is Rs 155 per quintal.
• The FRP is higher by 77.42 per cent over production cost thereby ensuring the promise of giving the farmers a return of more than 50 per cent over their cost.
• Keeping the expected production of sugarcane in the sugar season 2018-19 the total remittance to the sugarcane farmers will be more than Rs 83,000 crore.
• The Government through its pro-farmer measures will also ensure that the sugarcane farmers get their dues in time.
CCEA approves continuation of Pre-Matric Scholarship and Post Matric Scholarship schemes
• The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the proposal for continuation of Pre-Matric, Post Matric and Merit-cum-Means based Scholarship Schemes for the students belonging to the six notified Minority Communities at a total cost of Rs 5338.32 crore for period up to 2019-20.
• The schemes are expected to benefit 70 lakh students annually. They shall be implemented through the National Scholarship Portal (NSP) and scholarships will be disbursed through the Direct Benefit Transfer (DBT) mode.
• The scholarships are awarded to students who have secured not less than 50 per cent marks in the previous final examination.
• The students should be studying in Government Schools/ Institutes or recognised private schools/ institutes.
Cabinet approves Special Package for Irrigation Projects in chronically drought-prone areas of Maharashtra
• The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the implementation of Centrally Sponsored-Scheme for completion of 83 Minor Irrigation projects and 8 major/medium irrigation projects of Marathwada, Vidharbha and drought-prone areas of the rest of Maharashtra.
• The completion of these projects will ensure an assured source of water to the farmers in the command area of these projects. This will increase the yield of their crops and thereby increase the income of the farmers.
• The special package shall help in the creation of additional potential of 3.77 L Hectares in Marathwada, Vidharbha and drought-prone areas of the rest of Maharashtra.
• The projects included under special package are over and above the 26 major/ medium projects of Maharashtra having an ultimate potential of 8.501 Ha being funded under PMKSY-AIBP, which are planned to be completed by December 2019.
• The progress of the projects would be monitored by State as well as Central Water Commission.
CCEA approves the establishment of new medical college at Deoria, Uttar Pradesh
• The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the proposal of the state government of Uttar Pradesh for the establishment of a new medical college at Deoria at a cost of Rs 250 crore under Phase-II of the Centrally Sponsored Scheme.
• Under Phase-II of the Centrally Sponsored Scheme for the establishment of new medical colleges attached with existing District/Referral hospitals, the criteria for one medical in every three parliamentary constituencies and one government medical college in each state was adopted.
• Accordingly, a requirement of 24 additional medical colleges including eight medical colleges in Uttar Pradesh has been approved.
• The State Government of Uttar Pradesh has recommended for establishment of the new Medical College, Salempur at Deoria by up-gradation of District Hospital, Deoria.
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