- MOU between India and Nepal for construction of petroleum products pipeline
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval for the signing of a Memorandum of Understanding (MoU) between the Government of India and the Government of Nepal for the construction of a petroleum products pipeline from Raxaul (India) to Amlekhgunj (Nepal) and re-engineering of Amlekhgunj Depot and allied facilities.
- The MoU will promote bilateral cooperation in the oil and gas sector and secure long term supply of petroleum products to Nepal.
- Cabinet Approves Spectrum Sharing Guidelines
- India on Wednesday approved the much-awaited spectrum sharing guidelines, which are expected to address the issue of mobile phone call drops and also optimise the use of radio frequency spectrum for telecom services
- Spectrum sharing will be restricted to sharing by only two licensees subject to the condition that there will be at least two independent networks provided in the same band.
- Soft loan to sugar mills to facilitate payment of cane dues of farmers for the current sugar season 2014-15
- To further infuse liquidity into the sugar industry and facilitate clearing of cane dues arrears, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved a soft loan scheme to the extent of Rs. 6000 crore for the current sugar season.
- The CCEA has further mandated that banks pass on the financial assistance directly to the cane growers after obtaining the list from the mills.
- Furthermore, in order to incentivize mills to clear their dues expeditiously, the government had earlier mandated that soft loans will be provided to only those units which have cleared at least 50 percent of their outstanding arrears by 30.6.2015.
- The Government has provided one year moratorium on this loan, and will bear the interest subvention cost to the extent of Rs. 600 crore for the said period.
- China, Pakistan sign deals worth $1.6 billion to beef up CPEC project
- Firming up their cooperation to build the $46 billion economic corridor through PoK, China and Pakistan today signed 20 more agreements worth $1.6 billion to implement the ambitious CPEC project.
- The agreements were signed at the CPEC Forum held at Karamay city in Xinjiang province bordering Pakistan-occupied Kashmir (PoK).
- It will shorten the route for China’s energy imports from the Middle East by about 12,000 kms.
Read next : Daily GK Potion – 14th and 15th August 2015 ››
Read previous: « Daily GK Potion – 10th to 12th August 2015
« Back to current affairs