Cabinet Approval 15th September 2021 All MoU and Agreements with Details

Cabinet Approval 15th September 2021 All MoU and Agreements with Details

Cabinet Approval 15th September 2021 All MoU and Agreements with Details

Cabinet Approval 15th September 2021 All MoUs Agreements List. Union Cabinet Approval 15th September 2021 All MoU and Agreements with Details Given Below:

Cabinet approves MoU between India and Italy on Cooperation in the field of Disaster Risk Reduction and Management 

The Union Cabinet chaired by the Prime Minister Narendra Modi was apprised about the Memorandum of Understanding (MoU) between the National Disaster Management Authority (NDMA) of the India and the Department of Civil Protection of the Presidency of the Council of Ministers of Italy on Cooperation in the field of Disaster Risk Reduction and Management.

The MoU seeks to put in place a system, whereby both India and Italy will benefit from the Disaster Management mechanisms of each other and it will help in strengthening the areas of preparedness, response and capacity building in the field of Disaster Management.

The MoU on cooperation in the Field of Disaster Risk Reduction and management between the NDMA of the Republic of India and the Department of Civil Protection of the Presidency of the Council of Ministers of the Italian Republic was signed in June, 2021.

Cabinet approves PLI Scheme for Auto Industry and Drone Industry 

The Cabinet approved the PLI Scheme for Automobile Industry and Drone Industry with a budgetary outlay of ₹ 26,058 crore. The PLI scheme for the auto sector will incentivize high value Advanced Automotive Technology vehicles and products. It will herald a new age in higher technology, more efficient and green automotive manufacturing.

Key Highlights

• PLI Auto Scheme will incentivize emergence of Advanced Automotive Technologies global supply chain in India
• Help create additional employment of over 7.6 lakh people
• Incentives worth ₹ 26,058 crore will be provided to industry over five years
• PLI Scheme for auto sector will bring fresh investments of over₹42,500 crore in five years and incremental production of over ₹ 2.3 lakh crore
• PLI Scheme for Drones will bring fresh investments of over₹5,000 crore in three years and incremental production of over ₹ 1,500 crore
• PLI Scheme for automotive sector along with already launched PLI for Advanced Chemistry Cell (₹18,100 crore) and Faster Adaption of Manufacturing of Electric Vehicles (FAME) Scheme (₹10,000 crore) will give a big boost to manufacture of Electric Vehicles

Cabinet approves number of structural and process reforms in Telecom sector

The Union Cabinet, chaired by the Prime Minister Narendra Modi approved a number of structural and process reforms in the Telecom sector. These are expected to protect and generate employment opportunities, promote healthy competition, protect interests of consumers, infuse liquidity, encourage investment and reduce regulatory burden on Telecom Service Providers (TSPs). 

Nine structural reforms and Five procedural reforms plus relief measures for the Telecom Service Providers are as below:

Structural Reforms in Telecom sector 

1. Rationalization of Adjusted Gross Revenue: Non-telecom revenue will be excluded on prospective basis from the definition of AGR.
2. Bank Guarantees (BGs) rationalized: Huge reduction in BG requirements (80%) against License Fee (LF) and other similar Levies. No requirements for multiple BGs in different Licenced Service Areas (LSAs) regions in the country. Instead, One BG will be enough.
3. Interest rates rationalized/ Penalties removed: From 1st October, 2021, Delayed payments of License Fee (LF)/Spectrum Usage Charge (SUC) will attract interest rate of SBI’s MCLR plus 2% instead of MCLR plus 4%; interest compounded annually instead of monthly; penalty and interest on penalty removed.
4. For Auctions held henceforth, no BGs will be required to secure instalment payments. Industry has matured and the past practice of BG is no longer required.
5. Spectrum Tenure: In future Auctions, tenure of spectrum increased from 20 to 30 years.
6. Surrender of spectrum will be permitted after 10 years for spectrum acquired in the future auctions.
7. No Spectrum Usage Charge (SUC) for spectrum acquired in future spectrum auctions.
8. Spectrum sharing encouraged- additional SUC of 0.5% for spectrum sharing removed.
9. To encourage investment, 100% Foreign Direct Investment (FDI) under automatic route permitted in Telecom Sector. All safeguards will apply.
   

Procedural Reforms in Telecom sector

1. Auction calendar fixed - Spectrum auctions to be normally held in the last quarter of every financial year.
2. Ease of doing business promoted - cumbersome requirement of licenses under 1953 Customs Notification for wireless equipment removed. Replaced with self-declaration.
3. Know Your Customers (KYC) reforms: Self-KYC (App based) permitted. E-KYC rate revised to only One Rupee. Shifting from Prepaid to Post-paid and vice-versa will not require fresh KYC.
4. Paper Customer Acquisition Forms (CAF) will be replaced by digital storage of data. Nearly 300-400 crore paper CAFs lying in various warehouses of TSPs will not be required. Warehouse audit of CAF will not be required.
5. SACFA clearance for telecom towers eased. DOT will accept data on a portal based on self-declaration basis. Portals of other Agencies (such as Civil Aviation) will be linked with DOT Portal.