Important Cabinet Approvals- 18th July 2018

Important Cabinet Approvals- 04th July 2018

The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-

The Cabinet has approved- 

1. MoU between India and Indonesia on cooperation in the field of pharmaceutical products, pharmaceutical substances, biological product and cosmetics regulatory functions.
2. Mutual Recognition Agreement (MRA) signed in 2010 and approves fresh MRA between the ICAI and the Institute of Certified Public Accountants, Ireland.
Background:
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament of India, The Chartered Accountants Act, 1949′, to regulate the profession of Chartered Accountancy in India.
3. MoU between the Institute of Chartered Accountants of India and Bahrain Institute of Banking and Finance, Bahrain.
4. MoU between the Institute of Chartered Accountants of India and “National Board of Accountants and Auditors, Tanzania- The MoU will develop a mutually beneficial relationship in the best interest of ICAI members, students and their organizations.
5. Establishment of Medical College, Salempur at Deoria, Uttar Pradesh.
6. Policy framework for streamlining the working of Production Sharing Contracts (PSCs) in Pre-NELP and NELP Blocks.
7. Continuation of the Schemes of (i) Pre-Matric Scholarship Scheme; (ii) Post Matric Scholarship Scheme; and (iii) Merit-cum-Means based Scholarship Scheme for the students belonging to Minority Communities during 2017-18 to 2019-20.
8. Special Package for Irrigation Projects in Vidarbha, Marathwada and other chronically drought-prone areas of Rest of Maharashtra.
9. Signing of MoU amongst BRICS Nations on the Regional Aviation Partnership- The objective is that BRICS countries would benefit from the establishment of an institutional framework to cooperate in the field of civil aviation.
10. MoU between India and Cuba on cooperation in the field of Traditional Systems of Medicine and Homeopathy- The MoU will enhance bilateral cooperation between the two countries in the areas of Traditional Systems of Medicine and Homeopathy.
11. Determination of Fair and Remunerative Price payable by Sugar Mills for 2018-19 sugar season- Cabinet has approved the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2018-19 at Rs. 275/- per quintal for a basic recovery rate of 10%; providing a premium of Rs. 2.75/qtl for each 0.1 % increase in recovery over and above 10%. The cost of production of sugarcane for the sugar season 2018-19 is Rs. 155 per quintal.



Source- Press Information Bureau (PIB)