Hello and welcome to exampundit. Since Syndicate Bank, Canara Bank, SBI PO 2018 heading your way, we have decided to gear up your preparation with articles on Banking & Financial News. One of the most important thing in Current Affairs is Cabinet Approvals. So, we have compiled List of Important Cabinet Approvals 2018 as of 18, January, 2018.
List of Important Cabinet Approvals 2018
As of 18 January, 2018
Cabinet Approvals in January, 2018
- Cabinet approved MoU between India and Belgium on Cooperation in the field of Information Communication Technology and Electronics (ICT&E).
- Cabinet has given ex-post facto approval to the Note submitted by the Department of Commerce and approved the approach to be adopted by India at the Eleventh Ministerial Conference of the WTO held in Buenos Aires, Argentina in December 2017.
- Cabinet has given its approval to the construction, operation and maintenance of 2-lane bi-directional Zojila Tunnel with Parallel Escape (Egress) Tunnel excluding approaches on Srinagar-Leh section connecting NH-1A at Km 95.00 and at Km 118.00 in Jammu & Kashmir on Engineering, Procurement and Construction (EPC) mode. The total capital cost of the project is Rs 6808.69 crore.
- Cabinet has given its approval for mandatory packaging of foodgrains and sugar in the jute material for the Jute Year 2017-18. The approval mandates that 90% of the food grains and 20% of the sugar products shall be mandatorily packed in jute bags.
- Cabinet has given its approval for implementation of the Jal Marg Vikas Project (JMVP) for capacity augmentation of navigation on National Waterway-1 (NW-1) at a cost of Rs 5369.18 crore with the technical assistance and investment support of the World Bank. The Project is expected to be completed by March, 2023. States: Uttar Pradesh, Bihar, Jharkhand, West Bengal. Funding pattern: IBRD loan component: ₹ 2, 512 crore (US$ 375 million). Government of India counterpart funds: ₹ 2,556 crore (US$ 380 million), to be sourced from budgetary allocation and proceeds from bond issue. Private sector participation under PPP mode: ₹ 301 crore (US$45 million).
- Cabinet has given its approval to continuation of Members of Parliament Local Area Development Scheme (MPLADS) till the term of the 14th Finance Commission i.e. 31.03.2020. The Scheme would entail an annual allocation of ₹ 3,950 crore and a total outlay of ₹ 11,850 crores over the next three years.
- Cabinet has given its approval for establishment of new AIIMS in Bilaspur (Himachal Pradesh) under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). The cost of the project is ₹ 1351 crore.
- Cabinet has approved the signing and implementation of the Memorandum of Understanding (MoU) between Ministry of Road Transport & Highways and ‘Transport for London’ to improve Public Transport in India.
- Cabinet apprised of the MoU between India and Italy on cooperation in the field of renewable energy.
- Cabinet approved Agreement between India and Myanmar on Land Border Crossing.
- Cabinet approved MoU between India and Israel on Cooperation in the Oil and Gas Sector.
- Cabinet approved amendments in FDI policy
- 100% FDI under automatic route for Single Brand Retail Trading
- 100% FDI under automatic route in Construction Development
- Foreign airlines allowed to invest up to 49% under approval route in Air India
- FIIs/FPIs allowed to invest in Power Exchanges through primary market
- Definition of ‘medical devices’ amended in the FDI Policy
- Cabinet approved fixed term for Chairperson and Members of the National Trust by Three Years.
- Cabinet approved MoU between India and Canada for cooperation in the field of Science & Technology.
Cabinet Approvals in December, 2017
- Cabinet approved setting up of National Nutrition Mission with a three year budget of ₹ 9046.17 crore commencing from 2017-18.
- Cabinet has approved the continuation of the existing Non Lapsable Central Pool of Resources (NLCPR) scheme for North-East with funding pattern of 90:10 till March, 2020 with an outlay of ₹ 5300.00 crore.
- Cabinet has approved the continuation of Centrally Sponsored Scheme of National Ayush Mission (NAM) from 01.04.2017 to 31.03.2020 with an outlay of ₹2400 crore over the 3 year period. The Mission was launched in September, 2014.
- Cabinet has approved that the Merchant Discount Rate (MDR) applicable on all debit card/BHIM UPI/ Aadhaar enabled Payment System (AePS) transactions upto and including a value of ₹2000 will be borne by the Government for a period of two years with effect from 1st January, 2018 by reimbursing the same to the banks.
- Cabinet approved signing of MoU between India and Colombia in the field of agriculture and fisheries.
- Cabinet approved Agreement with UNESCO on establishment of International Training Centre for Operational Oceanography in Hyderabad.
- Cabinet approved special package for employment generation in leather and footwear sector. The package involves implementation of Central Sector Scheme “Indian Footwear, Leather & Accessories Development Programme” with an approved expenditure of ₹ 2600 Crore over the three financial years from 2017-18 to 2019-20.
- Cabinet approved MoU between India and Italy on cooperation in the field of Health and Medicine.
- Cabinet approved MoU between India and Cuba on cooperation in the field of Health and Medicine.
- Cabinet approved extension of term of the Commission to examine the issue of sub-categorization of Other Backward Classes by twelve weeks i.e. upto 2nd April, 2018
- Cabinet has approved the Ministry of Railways’ transformative initiative to set up the first ever National Rail and Transport University (NRTU) in Vadodara, Gujarat.
- Cabinet has approved the way for conducting the auction of 683 FM channels in 236 cities in subsequent batches.
- Cabinet approved “Scheme for Capacity Building in Textiles Sector (SCBTS)” for the period from 2017-18 to 2019-20 with an outlay of ₹1300 crore.
Cabinet Approvals in November 2017
- Cabinet approved trade Agreement between India and Ethiopia for strengthening and promoting trade and economic cooperation.
- Cabinet approved signing an Agreement between India and Armenia on cooperation and mutual assistance in customs matters.
- Cabinet approved MoU between India and Philippines on agriculture and related fields.
- Cabinet approved the protocol amending the Agreement between India and Kyrgyzstan for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
- Cabinet approved Agreement between India and the Hong Kong Special Administrative Region of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income.
- Cabinet approved Development of Exhibition-cum-Convention Centre at Dwarka, New Delhi.
- Cabinet approved Joint Interpretative Declaration between India and Colombia regarding the Agreement for the Promotion and Protection of Investments signed on November 10, 2009.
- Cabinet approved continuation and Restructuring of National Rural Drinking Water Programme.
- Cabinet approved Creation of National Testing Agency (NTA) to conduct entrance examinations for higher educational institutions.
- Cabinet approved the increase in the carpet area of houses eligible for interest subsidy under the Credit Linked Subsidy Scheme for the Middle Income Group under Pradhan Mantri Awas Yojana.
- Cabinet approved agreement between India and Belarus on Scientific and Technological Cooperation for mutual benefit in the areas of science, technology, agriculture, etc.
- The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved continuation of the Centrally Sponsored Scheme (CSS) for Development of Infrastructure Facilities for Judiciary beyond 12th Five Year Plan i.e. from 01.04.2017 to 31.03.2020 to be implemented in a Mission Mode through National Mission for Justice Delivery and Legal Reforms with an estimated outlay of ₹ 3,320 crore.
- Cabinet approved the establishment of the National Anti-profiteering Authority under GST. B N Sharma named first chairman of National Anti-profiteering Authority.
- Cabinet approved MoU between India and Poland for the promotion of Civil Aviation Cooperation.
- Cabinet approved Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises.
- Cabinet approved setting up of the 15th Finance Commission – Chairman is N K Singh – will submit report by October, 2019.
- Cabinet approved continuation of the scheme on Indian Institute of Corporate Affairs for another three financial years (FYs 2017-18 to 2019-20) and providing Grants-in-aid of ₹ 18 crore to the Institute.
- Cabinet approved India’s Membership for European Bank for Reconstruction & Development (HQ – London, UK).
- Cabinet approved agreement between India and Philippines on co-operation and mutual assistance in customs matters
- Cabinet approved investment cooperation and facilitation treaty between India and Brazil.
- Cabinet approved MoU between India and Italy for cooperation in Agriculture and Phytosanitary issues.
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