Union Cabinet gives nod to India-EU agreement on S&T cooperation

The Union Cabinet has given its approval to the renewed Agreement for Scientific and Technological Cooperation with European Union (EU) for another period of 5 years. The agreement will be retrospectively effective from 17 May 2015 until 2020.

• The agreement will reaffirm India-EU’s shared commitment to research and innovation as drivers of social and economic development.
• The Agreement’s purpose is to strengthen the co-operation in R&D activities in science & technology fields of common interest between the research institutions of the EU Member States and India.
• The cooperation activities include supporting joint R&D projects, sharing of advanced research facilities, exchange of scientists and experts joint seminars.
• It will also include symposia and workshops, sharing of relevant information on science, technology and innovation policy, program and R&D projects.
• The Agreement for Scientific and Technological Cooperation was initially signed in November, 2001 was in force till May 2015.

Union Cabinet apprised IT agreement signed between India and Qatar

The Cabinet was apprised of the bilateral agreement signed between India and Qatar in March, 2015 and ratifications made thereafter. The agreement signed between the two countries seeks active engagement and cooperation in field of IT and Telecom sector.

• The MoU was ratified by both India and Qatar on 1st January, 2016 and 12th January, 2016 respectively for promoting bilateral cooperation in the field of Information Communication Technology.
• The agreement covers active cooperation and exchanges between the private entities, capacity building institutions, Governments and other public organisations of the two countries in the field of IT and Telecom.

Union Cabinet approves India-UAE currency swap agreement

Focusing on India’s cooperation with the Gulf region, the Union Cabinet has cleared the currency-swap agreement with the UAE. Following the Cabinet approval India and the UAE will be a step closer to bilateral currency swap on mutually agreed terms and conditions.

• The agreement is also likely to facilitate invoicing of bilateral business in local currencies.
• The Cabinet was “apprised of” an IT agreement between Qatar and India which was signed in March 2015.
• The agreement is significant as it is likely to be showcased during the coming visit of Mr. Modi to Qatar.

Union Cabinet approves to allow flexibility in using domestic coal to reduce power generation cost

Government has relaxed norms for utilisation of domestic coal that will help bring down the cost of power generation by 40 to 50 paise per unit and eventually lead to yearly savings of up to Rs 30,000 crore in the next 4-5 years. The Union Cabinet has given its approval for allowing flexibility in utilisation of domestic coal for reducing the cost of power generation.

• In case of use of coal in state/ central generating plants, the deciding criteria shall be plant efficiency, coal transportation cost, transmission charges and overall cost of power.
• In case of use of coal assigned to the state in private generating stations, power through substituted coal shall be procured on bidding basis from amongst the competing private sector plants, where the source of coal, quantity of coal, quantum of power, and delivery point for the receipt of power shall be indicated upfront.
• The Central Electricity Authority shall in consultation with all the stakeholders, issue the methodology for implementation of use of coal assigned to the state(s) in their own generating stations, other state generating stations, central generating stations (CGS) and Integrated Procurement Production (IPPs).

Union Cabinet approved to adopt United Nations fundamental principles of official statistics

The Cabinet has approved a proposal to adopt United Nations Fundamental Principles of Official Statistics, in a move to improve data collection process.

• The adoption will lead to professional independence, impartiality, accountability and transparency in methods of collection, compilation and dissemination of official statistics, besides ensuring international standards.
• It is also expected to pave the way for devising a National Policy on Official Statistics for improving systems, procedures and institutions consistent with these principles.
• As per the 10 Fundamental Principles of Official Statistics, as endorsed by the UN General Assembly, it provides an indispensable element in the information system.