MoU between India-Taipei Association and others
MoU between India-Taipei
Association (ITA) in Taipei and Taipei Economic and Cultural Center (TECC) in
India on cooperation in the field of Micro, Small and Medium Enterprises.
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi, has approved the MoU between
the India-Taipei Association (ITA) in Taipei and Taipei Economic and Cultural
Center (TECC) in India. The MoU is on cooperation in the field of Micro, Small
and Medium Enterprises.
The objective of the MoU is to promote the cooperation between the Micro, Small & Medium Enterprises between the two Parties. It provides a structured framework and enabling environment to the MSME sector of the two Parties to understand each other's strengths, markets, technologies, policies etc. It also contains an agreement between the two Parties to enable their respective MSMEs to participate in each other's trade fairs/exhibitions and to exchange business delegations with the other Party, to understand the policy and explore markets so that joint ventures, tie-ups, technology transfer etc. could take place. This type of cooperation opens up doors of new opportunities for the Indian MSME sector by way of new markets, joint ventures, sharing of best practices and technology collaborations
The MoU does not contain or involve any financial, legal or political commitment on the part of either Party. In no case does it attract any financial liability on the Parties.
Background:
The MSME sector has consistently registered higher growth rate as compared to the overall industrial sector. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic crisis. However, maintain and increasing its share in the total export as also in GDP of the country is a big challenge in the era of globalization and liberalization.
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Upgradation of existing NIFT
Campuses for implementation of reservation for OBC students – extension of
timeline for utilization of fund
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi, has approved Upgradation of
existing NIFT Campuses for implementation of reservation for OBC students –
extension of timeline for utilization of fund.
With this, extension of timeline is effective for utilization of balance available fund of Rs. 90.13 crore, by two years beyond 31.03.2015 that is upto March 2017. This will enable upgradation of facilities for implementation of OBC reservation in NIFT and operating the campuses more effectively and efficiently.
Background:
The NIFT was set up by the Ministry of Textiles in the year 1986 as an autonomous society under the Societies Registration act, 1860 for imparting quality education in fashion technology. NIFT has been running full time Degree programmes through its fifteen campuses located at different parts of the country. The scope of the scheme for upgradation of existing NIFT Campuses and implementing reservation for OBC students is to create additional infrastructure facilities at existing NIFT campuses, construction of additional class rooms, laboratories, hostel accommodation for students, purchase of machinery and equipments etc.
With this, extension of timeline is effective for utilization of balance available fund of Rs. 90.13 crore, by two years beyond 31.03.2015 that is upto March 2017. This will enable upgradation of facilities for implementation of OBC reservation in NIFT and operating the campuses more effectively and efficiently.
Background:
The NIFT was set up by the Ministry of Textiles in the year 1986 as an autonomous society under the Societies Registration act, 1860 for imparting quality education in fashion technology. NIFT has been running full time Degree programmes through its fifteen campuses located at different parts of the country. The scope of the scheme for upgradation of existing NIFT Campuses and implementing reservation for OBC students is to create additional infrastructure facilities at existing NIFT campuses, construction of additional class rooms, laboratories, hostel accommodation for students, purchase of machinery and equipments etc.
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Implementation of the Kaladan
Multi Modal Transit Transport Project in Myanmar at the Revised Cost Estimate
of Rs 2904.04 Crore
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi, today gave its approval for
the Revised Cost Estimate (RCE) of Rs.2904.04 crores for the Kaladan Multi
Modal Transit Transport Project in Myanmar.
The project will provide an alternate access route to the North-Eastern region of India and contribute towards the region's economic development. Being a key connectivity project, it will promote economic, commercial and strategic links between India and Myanmar.
Background:
The Kaladan Multi Modal Transit Transport Project was jointly identified by the India and Myanmar to create a multi-modal mode of transport for shipment of cargo from the eastern ports of India to Myanmar as well as to the North-Eastern part of India through Myanmar. This project, which will connect Sittwe Port in Myanmar to the India-Myanmar border, is expected to contribute to the economic development of the North-Eastern States of India, by opening up the sea route for the products. It also provides a strategic link to the North-East, thereby reducing pressure on the Siliguri Corridor. In the absence of an alternate route, the development of this project not only serves the economic, commercial and strategic interests of India, but also contributes to the development of Myanmar, and its economic integration with India. Since the project is of political and strategic significance, it was decided to execute it through India's grant assistance to Myanmar.
Following preparation of the Detailed Project Reports (DPR) for the waterways component comprising Port and Inland Waterways Terminal (IWT) in April 2003 and the road component in March 2005, M/s RITES Limited, a Public Sector Undertaking under the Ministry of Railways, suggested a waterway route from Sittwe Port to Kaletwa (225 kms) along the Kaladan River and thereafter a roadway from Kaletwa to the India-Myanmar border (62 kms). The Cabinet approved the project at a cost of Rs. 535.91 crores in its meeting held in March 2008.
The project will provide an alternate access route to the North-Eastern region of India and contribute towards the region's economic development. Being a key connectivity project, it will promote economic, commercial and strategic links between India and Myanmar.
Background:
The Kaladan Multi Modal Transit Transport Project was jointly identified by the India and Myanmar to create a multi-modal mode of transport for shipment of cargo from the eastern ports of India to Myanmar as well as to the North-Eastern part of India through Myanmar. This project, which will connect Sittwe Port in Myanmar to the India-Myanmar border, is expected to contribute to the economic development of the North-Eastern States of India, by opening up the sea route for the products. It also provides a strategic link to the North-East, thereby reducing pressure on the Siliguri Corridor. In the absence of an alternate route, the development of this project not only serves the economic, commercial and strategic interests of India, but also contributes to the development of Myanmar, and its economic integration with India. Since the project is of political and strategic significance, it was decided to execute it through India's grant assistance to Myanmar.
Following preparation of the Detailed Project Reports (DPR) for the waterways component comprising Port and Inland Waterways Terminal (IWT) in April 2003 and the road component in March 2005, M/s RITES Limited, a Public Sector Undertaking under the Ministry of Railways, suggested a waterway route from Sittwe Port to Kaletwa (225 kms) along the Kaladan River and thereafter a roadway from Kaletwa to the India-Myanmar border (62 kms). The Cabinet approved the project at a cost of Rs. 535.91 crores in its meeting held in March 2008.
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Permission for loss making
subsidiaries of Coal India Ltd. (CIL) to adopt 2007 pay revision as an
exception to the prescribed affordability clause and payment of Performance
Related Pay (PRP) to executives and non-unionised supervisors of all
subsidiaries of CIL
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi, has approved the
recommendations of the Committee of Secretaries to regularize the 2007 Pay
Revision implemented by Coal India Limited (CIL) with effect from 01.01.2007 in
the loss making subsidiaries. This is being allowed as a special dispensation
to CIL. However, this special dispensation to CIL will not be cited as a
precedent by other loss making Central Public Sector Enterprises (CPSEs).
The Cabinet also approved the payment of Performance Related Pay (PRP) to executives and non-unionised supervisors of CIL and its subsidiaries. The payment would be out of the corpus created by pooling the profits of CIL subsidiary companies, duly setting off the losses of the loss making subsidiaries and stand-alone profits of CIL, excluding dividends received from its subsidiary companies. This will be with the condition that the corpus for payment of PRP should be treated as a yearly corpus with no provision for carrying it forward to subsequent years.
This would ensure equity among executives who are transferable, across the subsidiaries companies, and would also help in keeping up the morale of executives working in loss making CPSEs and CPMDIL.
Background:
CIL was formed by the Government of India as a holding company in September 1975 with five subsidiary companies. The policy regarding recruitment/appointment, posting, inter-company transfer and other personnel related issues of all executives of CIL and its eight subsidiary companies are centrally administered by CIL, the holding company. As such, all executives in CIL and its subsidiaries are drawn from a common centralized cadre and they are all considered to be employees of the holding company that is CIL.
The Cabinet also approved the payment of Performance Related Pay (PRP) to executives and non-unionised supervisors of CIL and its subsidiaries. The payment would be out of the corpus created by pooling the profits of CIL subsidiary companies, duly setting off the losses of the loss making subsidiaries and stand-alone profits of CIL, excluding dividends received from its subsidiary companies. This will be with the condition that the corpus for payment of PRP should be treated as a yearly corpus with no provision for carrying it forward to subsequent years.
This would ensure equity among executives who are transferable, across the subsidiaries companies, and would also help in keeping up the morale of executives working in loss making CPSEs and CPMDIL.
Background:
CIL was formed by the Government of India as a holding company in September 1975 with five subsidiary companies. The policy regarding recruitment/appointment, posting, inter-company transfer and other personnel related issues of all executives of CIL and its eight subsidiary companies are centrally administered by CIL, the holding company. As such, all executives in CIL and its subsidiaries are drawn from a common centralized cadre and they are all considered to be employees of the holding company that is CIL.
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Extending the existing
Productivity Linked Reward Scheme for Port and Dock employees for payment of
Productivity Linked Reward from the year 2014-15 to 2015-16
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi, today gave its approval for
extending the existing Productivity Linked Reward (PLR) Scheme for Port and
Dock employees for payment of Productivity Linked Reward from the year 2014-15
to 2015-16. The payment of PLR would be made after adjusting the ad-hoc amount
already paid for the year 2014-15.
The expenditure on account of PLR shall be met by the Major Port Trusts and Dock Labour Boards from their own resources without any Budgetary support from the Government.
This will benefit about 44,000 major Ports and Dock workers/employees/officer and will help ensure a better industrial relationship and congenial work atmosphere in the Port Sector apart from stimulating better productivity. The Major Port Trusts/Dock Labour Boards will be immediately informed on due dates to make payment of the PLR, as per the existing scheme to all employees/ workers/officers for the years 2014-15 and 2015-16.
The expenditure on account of PLR shall be met by the Major Port Trusts and Dock Labour Boards from their own resources without any Budgetary support from the Government.
This will benefit about 44,000 major Ports and Dock workers/employees/officer and will help ensure a better industrial relationship and congenial work atmosphere in the Port Sector apart from stimulating better productivity. The Major Port Trusts/Dock Labour Boards will be immediately informed on due dates to make payment of the PLR, as per the existing scheme to all employees/ workers/officers for the years 2014-15 and 2015-16.
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MoU between the Ministry of
New and Renewable Energy, Government of the Republic of India and the
Government of Mozambique
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi, has approved MoU between the
Ministry of New and Renewable Energy, India and Mozambique.
A Memorandum of Understanding was signed between the Ministry of New and Renewable Energy of the Government of India and the Ministry of Mineral Resources and Energy, Government of Mozambique in New Delhi on 5th August, 2015, during the visit of H.E. Mr. Filipe Nyusi, President of Mozambique to India.
The Memorandum of Understanding will help in strengthening bilateral cooperation between the two countries.
Background:
The objective of this Memorandum of Understanding is to establish the basis for a cooperative institutional relationship to encourage and promote technical bilateral cooperation, investment promotion and partnership on new and renewable energy issues on the basis of mutual benefit, equality and reciprocity. The areas of cooperation will focus on development of new and renewable energy technologies in the field of conducting on-the-job and specialized training courses on renewable energy field, Research & development and of technology transfer in renewable energy, including Labs; Exchange of experience on different kinds of renewable energies, focusing on solar, wind, biomass, biofuels and geothermal; Establish a bilateral private sector renewable energy platform; Scientific visits and any other mutually agreed areas.
A Memorandum of Understanding was signed between the Ministry of New and Renewable Energy of the Government of India and the Ministry of Mineral Resources and Energy, Government of Mozambique in New Delhi on 5th August, 2015, during the visit of H.E. Mr. Filipe Nyusi, President of Mozambique to India.
The Memorandum of Understanding will help in strengthening bilateral cooperation between the two countries.
Background:
The objective of this Memorandum of Understanding is to establish the basis for a cooperative institutional relationship to encourage and promote technical bilateral cooperation, investment promotion and partnership on new and renewable energy issues on the basis of mutual benefit, equality and reciprocity. The areas of cooperation will focus on development of new and renewable energy technologies in the field of conducting on-the-job and specialized training courses on renewable energy field, Research & development and of technology transfer in renewable energy, including Labs; Exchange of experience on different kinds of renewable energies, focusing on solar, wind, biomass, biofuels and geothermal; Establish a bilateral private sector renewable energy platform; Scientific visits and any other mutually agreed areas.
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Special Banking Arrangement
for payment of outstanding subsidy to fertilizer companies during 2014-15
The Cabinet
Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi,
today has given its ex-post facto approval for a Special Banking Arrangement
(SBA) for a loan of Rs.7000 crore with the consortium of Public Sector Banks
led by State Bank of India (SBI) and Punjab National Bank (PNB) for settlement
of outstanding indigenous urea subsidy bills of fertilizer companies in
2014-15.
This has already been implemented/operationalized to overcome the liquidity problems of the fertilizer companies. Under the above SBA, a total of Rs. 6806.66 crore for settlement of subsidy bills with the two consortiums of Public Sector Banks led by SBI and PNB was raised by the Government. The above loan amount along with interest liability on the part of Government thereon amounting to Rs. 64.03 crore was paid to the Banks.
Background
Government is making available fertilizers, namely Urea and 22 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufactures/importers. For making funds available to the fertilizer companies against their subsidy claims, the Ministry of Finance had approved SBA for an amount of Rs. 7000 crore with Government interest liability limited to G-Sec rate. Accordingly, an SBA was worked out with the two consortiums of banks led by State Bank of India (SBI) and Punjab National Bank (PNB) for an amount of Rs. 7000 crore to meet the outstanding subsidy claims of fertilizer companies. The loan together with Government Interest thereon has been repaid from BE 2015-16 within the sanctioned budget under the vote on account.
This has already been implemented/operationalized to overcome the liquidity problems of the fertilizer companies. Under the above SBA, a total of Rs. 6806.66 crore for settlement of subsidy bills with the two consortiums of Public Sector Banks led by SBI and PNB was raised by the Government. The above loan amount along with interest liability on the part of Government thereon amounting to Rs. 64.03 crore was paid to the Banks.
Background
Government is making available fertilizers, namely Urea and 22 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufactures/importers. For making funds available to the fertilizer companies against their subsidy claims, the Ministry of Finance had approved SBA for an amount of Rs. 7000 crore with Government interest liability limited to G-Sec rate. Accordingly, an SBA was worked out with the two consortiums of banks led by State Bank of India (SBI) and Punjab National Bank (PNB) for an amount of Rs. 7000 crore to meet the outstanding subsidy claims of fertilizer companies. The loan together with Government Interest thereon has been repaid from BE 2015-16 within the sanctioned budget under the vote on account.
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Construction of Houses and
barracks at various establishments of CISF, CRPF and ITBP
The Cabinet
Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi,
today has given its approval for construction of 13072 houses and 113 barracks
of various types at 68 locations of the Central Industrial Security Force
(CISF), Central Reserve Police Force (CRPF) and Indo-Tibetan Border Police
(ITBP) during 12th Five Year Plan (2012-2017). This will be at an estimated
cost of Rs.3090.98 crore. The main components include construction of 13072
residential houses (Type-ll, III, IV, V & VI) and 113 barracks (Type- Men
Barrack-120, 150,180, 240, 252, 264, 360) at 68 locations of CISF, CRPF and
ITBP.
The existing housing satisfaction level in the CISF, CRPF and ITBP is about 12.06 percent, and after the completion of the proposed project, the satisfaction level will reach to 15.13 percent. This project will meet the urgent need to improve the efficiency of the Forces with increasing housing satisfaction level. The improved housing satisfaction level will boost the morale of CAPF, improving the efficiency to deal with law and order, Counter Insurgency (Operation), Anti-Naxal Operations and guarding India’s international border.
The existing housing satisfaction level in the CISF, CRPF and ITBP is about 12.06 percent, and after the completion of the proposed project, the satisfaction level will reach to 15.13 percent. This project will meet the urgent need to improve the efficiency of the Forces with increasing housing satisfaction level. The improved housing satisfaction level will boost the morale of CAPF, improving the efficiency to deal with law and order, Counter Insurgency (Operation), Anti-Naxal Operations and guarding India’s international border.
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One time fund infusion to
revive and physically complete languishing national highway projects
The Cabinet Committee
on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, today
gave its approval for one time fund infusion to revive and physically complete
languishing national highway projects under the extension of provision
available for BOT (Toll) projects to BOT (annuity) projects.
The decision will allow the provisions of the Policy Circular of NHAI issued in June this year on one time fund infusion for BOT (Toll) projects to be extended and made applicable in case of languishing projects on BOT (Annuity) mode, subject to the condition that after completion of construction of such projects, loans are to be recovered along with interest at the rate of Bank Rate plus two percent by NHAI from the Annuities payable, bi-annuaily, through execution of a tripartite agreement among the senior lender, concessionaire and the Authority. This infusion of fund would be a one-time dispensation for all such projects that have been languishing as on 1st November, 2014. AII such cases and the amount of bridge fund required in each case shall be approved by the Authority, on a case to case basis.
This decision will revive highway projects in the country. It will also facilitate uplifting the socio-economic condition of the entire nation due to increased connectivity across the length and breadth of the country, leading to enhanced economic activity.
By adopting this policy, all major stakeholders in the PPP arrangement - the Authority, lender and the developer, concessionaire would have an increased comfort level resulting in revival of the sector and this will bring relief to citizen and travellers in that area.
The decision will allow the provisions of the Policy Circular of NHAI issued in June this year on one time fund infusion for BOT (Toll) projects to be extended and made applicable in case of languishing projects on BOT (Annuity) mode, subject to the condition that after completion of construction of such projects, loans are to be recovered along with interest at the rate of Bank Rate plus two percent by NHAI from the Annuities payable, bi-annuaily, through execution of a tripartite agreement among the senior lender, concessionaire and the Authority. This infusion of fund would be a one-time dispensation for all such projects that have been languishing as on 1st November, 2014. AII such cases and the amount of bridge fund required in each case shall be approved by the Authority, on a case to case basis.
This decision will revive highway projects in the country. It will also facilitate uplifting the socio-economic condition of the entire nation due to increased connectivity across the length and breadth of the country, leading to enhanced economic activity.
By adopting this policy, all major stakeholders in the PPP arrangement - the Authority, lender and the developer, concessionaire would have an increased comfort level resulting in revival of the sector and this will bring relief to citizen and travellers in that area.
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