The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval in the various fields and has also approved some important MoUs. The important approvals of the Cabinet are as follows-
The Cabinet has approved-
- The Interest Subvention Scheme (ISS) for farmers for the year 2017-18: This will help farmers getting short term crop loan up to Rs. 3 lakh payable within one year at only 4% per annum. The Government has earmarked a sum of Rs. 20,339 crore for this purpose.
- Ex-post facto approval to the MoU between Ministry of Agriculture & Farmers’ Welfare and the Ministry of Agriculture in the State of Palestine on agriculture cooperation.
- The proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017: The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies, and financial sector entities.
- The signing of MoU between India and Armenia on cooperation on youth matters
- The signing of MoU between India and Bangladesh for promoting cooperation in the field of Information Technology and Electronics.
Source- Press Information Bureau (PIB)