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| Cabinet Approval 29th June 2022 All MoU and Agreements with Details |
Cabinet Approval 29th June 2022 All MoU and Agreements with Details
Cabinet Decision: Cabinet Approval 29th June 2022 All MoUs Agreements List: Union Cabinet Approval 29th-30th June 2022 All MoU and Agreements with Details Given Below:
Cabinet approves Strategic Partnership Agreement between MNRE India and IRENA
The Union Cabinet chaired by the Prime Minister Narendra Modi was apprised of a Strategic Partnership Agreement signed between the Ministry of New and Renewable Energy (MNRE), Government of India and the International Renewable Energy Agency (IRENA). The Agreement was signed in January 2022.
Aims
The aim of the Agreement is to drive ambition, leadership and knowledge on green energy transitions based on renewable energy in India. The Agreement will help India’s energy transition efforts and will also help the world in combating climate change.
The salient features of the Agreement
- Facilitating knowledge sharing from India on scaling-up renewable energy and clean energy technologies
- Supporting India’s efforts on long term energy planning
- Collaborating to strengthen the innovation climate in India
- Moving towards cost-effective decarbonisation through catalysing development and deployment of green hydrogen.
Cabinet approves MoU between India and Singapore on Science, Technology and Innovation
The Union Cabinet chaired by the Prime Minister Narendra Modi was apprised of a Memorandum of Understanding (MoU) signed between the Department of Science and Technology of India and the Ministry of Trade and Industry of the Government of Singapore on Cooperation in the fields of Science, Technology and Innovation. The MoU was signed in February 2022.
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The MoU will provide a mechanism and help in creating and ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, IP generation through collaboration.
Objective
The objective of this Memorandum is to encourage, develop and facilitate cooperation between India and Singapore in fields of common interest in science, technology and innovation. Priority will be given to collaboration within any area of mutual interest that can advance progress in research, innovation and technological development including:
- Agriculture and food science and technology;
- Advanced manufacturing and engineering;
- Green economy, energy, water, climate and natural resources;
- Data science, Emerging Technologies;
- Advanced Materials; and
- Health and biotechnology.
Cabinet approves Deregulation of Sale of Domestically Produced Crude Oil
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved ‘Deregulation of Sale of Domestically Produced Crude Oil’, whereby the Government has decided to cease allocation of crude oil and condensate w.e.f. 01.10.2022.
This will ensure marketing freedom for all Exploration and Production (E&P) operators. The condition in the Production Sharing Contracts (PSCs) to sell crude oil to Government or its Nominee or Government Companies shall accordingly be waived off. All E&P companies will now be free to sell crude oil from their fields in the domestic market. Government revenues like Royalty, cess, etc. will continue to be calculated on a uniform basis across all Contracts. As earlier, exports will not be permissible.
Cabinet approves Computerization of Primary Agriculture Credit Societies (PACS)
The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved Computerization of Primary Agricultural Credit Societies (PACS) with the objective of increasing efficiency of PACS, bringing transparency and accountability in their operations; facilitating PACS to diversify their business and undertake multiple activities/ services.
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This project proposes computerization of about 63,000 functional PACS over a period of 5 years with a total budget outlay of Rs. 2516 crore with Government of India share of Rs. 1528 crore.
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