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Cabinet approves MoU between the ICAI and the Institute of Certified Public Accountants of Kenya

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Institute of Certified Public Accountants of Kenya (ICPAK). It will help to establish mutual co-operation and collaboration in the areas of knowledge sharing through joint research, quality support, capability and capacity building, trainee accountant exchange programmes and conducting Continuous Professional Development (CPD) Courses, workshops and conferences. Details: • ICAI and ICPAK will provide opportunities to key members of the reciprocal body’s staff to learn from their knowledge and experience through informal work placements to be agreed through a work schedule. • Jointly promote activities to raise awareness and the overall visibility of the ICAI/ ICPAK strategic partnership and the collaboration outlined in this MoU with members. • ICAI and ICPAK will collaborate on benchmarking initiatives and trainee accountant exchange programmes. Major impact: India is Kenya’s sixth largest trading partner and the largest exporter to Kenya. As per a report on African counties. The Kenyan economy is expected to be amongst the top performers in Africa in 2017 in terms of growth in Gross Domestic Product (GDP). Kenya has a largely diversified economic base and aims to seek increased access to the Indian market for Kenyan goods, while India is interested in exploring ways to become Kenya’s top foreign trading partner. Considering that Kenya’s economy is one of the top amongst the African countries and the kind of investments and trusts entrusted by the two counties in the recent past, India’s Chartered Accountants have already been playing a significant role in the economic growth of the country; there is a lot of scope for professional opportunities for Indian Chartered Accountants in Kenya.
Cabinet approves agreement between India and Philippines on co-operation and mutual assistance in customs matters

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the signing and ratifying of an Agreement between India and Philippines on co-operation and mutual assistance in customs matters. The Agreement will help in the availability of relevant information for the prevention and investigation of Customs offences. The Agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries. This Agreement shall enter into force after the necessary national legal requirements for entry into force of this Agreement have been fulfilled by both the countries. Background:- The Agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries. It would help in the proper application of Customs laws, prevention and investigation of Customs offences and the facilitation of legitimate trade. The draft text of the proposed Agreement has been finalized with the concurrence of the two Customs Administrations. The draft Agreement takes care of Indian Customs’ concerns and requirements, particularly in the area of exchange of information on the correctness of the Customs value declared and authenticity of certificates of origin of the goods traded between the two countries.
Cabinet approves establishment and operationalisation of permanent campuses of the IISERs at Tirupati and Berhampur

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved establishment and operationalistion of permanent campuses of the two new Indian Institutes of Science Education & Research (IISERs) at Tirupati (Andhra Pradesh) and Berhampur (Odisha). The total cost likely to be incurred is Rs. 3074.12 crore (Non-Recurring: Rs.2366.48 crore and Recurring: 707.64 crore). Creation of two posts of Registrar, one in each IISER in Level 14 of 7lh CPC has also been approved by the Cabinet. Details: The total cost is assessed at Rs. 3074.12 crore, out of which 2366.48 crore will be spent for construction of permanent campuses of these institutes, as per the following details:
PM greets people on the beginning of holy month of Ramzan

The Prime Minister, Shri Narendra Modi has greeted the people on the beginning of holy month of Ramzan. “Ramzan greetings to everyone. We recall the pious thoughts of Paighambar Mohammad Sahab, who highlighted the importance of harmony, kindness and charity. These are also the virtues the Holy Month of Ramzan stands for”, the Prime Minister said.
PM greets CISF personnel on the Raising Day of CISF

The Prime Minister, Shri Narendra Modi, has greeted the CISF personnel on theRaising Day of the Central Industrial Security Force. “Greetings and best wishes toCentral Industrial Security Forceon their Raising Day. CISF has distinguished itself by effectively catering to the security needs of vital establishments, many of which are driving India’s resurgence as well as connecting the nation”,the Prime Minister said.
Cabinet approves implementation of CCEA decision on closure of Tungabhadra Steel Products Limited

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the implementation of the CCEA decision on closure of Tungabhadra Steel Products Limited (TSPL) regarding disposal of its immovable assets. It also provides for getting the name of the company struck off from the Registrar of Companies after setting balance liabilities of TSPL. It may be recalled that CCEA had approved the closure of the company in December, 2015 after discharging all dues to employees/workers and creditors. Cabinet approved transfer of MMH Plants to Government of Karnataka along with 20,000 square meter land. Cabinet also approved selling 82.37 acres of land of the Company at Hospet to Karnataka Government for use of the Karnataka State Housing Board. The land is being sold to Karnataka Government at the rate of Rs. 66 lakh per acre offered by them.
PM visits Ananda Temple, Bagan

The Prime Minister, Shri Narendra Modi, today visited the Ananda Temple, at Bagan in Myanmar. This is a Buddhist temple built in the early 12th century. It is the second largest temple in the entire Bagan region. The Archaeological Survey of India has carried out structural conservation and chemical preservation work of this temple. Restoration work is being carried out after damage during the earthquake last year. The Prime Minister was shown a photo exhibit depicting the ongoing restoration work at the temple. He offered prayers and made a Parikrama of the temple, during which ASI representatives explained the restoration process. The Prime Minister signed the visitors’ book at the Temple, and unveiled a plaque signifying the contribution of India, in the restoration of the Ananda Temple. The ASI has undertaken several major conservation works across various countries of Asia. Besides the Ananda Temple, these include the Bamiyan Buddhas in Afghanistan, the Angkor Wat in Cambodia, the Ta Prohm Temple in Cambodia, the Vat Phou Temple in Laos, and the My Son Temple in Vietnam.
Cabinet approves MoU between India and Korea on Trade Remedy Cooperation

The Union Cabinet chaired by Prime Minister Shri Narendra Modi gave its ex-post facto approval to the Memorandum of Understanding (MoU) between India and Korea on Trade Remedy Cooperation. The MoU was signedin July 2018 during the State visit of President of Korea to India. The MoU will promote cooperation between the two countries in the area of trade remedies viz. anti-dumping, subsidy and countervailing and safeguard measures, which will enhance the bilateral trade relations.
Visit of President of Islamic Republic of Afghanistan to India

President of the Islamic Republic of Afghanistan, Dr. Mohammad Ashraf Ghani paid a visit to India on September 19, 2018 at the invitation of Prime Minister Narendra Modi. The two leaders reviewed and positively assessed the progress of the multi-faceted India-Afghanistan strategic partnership. They expressed satisfaction at the increase in bilateral trade that has crossed the US $ 1 billion mark. The two leaders also appreciated the successful conclusion of the India-Afghanistan trade and investment show in Mumbai from September 12-15, 2018 and expressed determination to strengthen connectivity, including through Chabahar port and Air-Freight Corridor. It was agreed to deepen the New Development Partnership in the areas of high impact projects in this field of infrastructure, human resources development and other capacity building projects in Afghanistan. President Ghani briefed the Prime Minister on initiatives by his government towards peace & reconciliation and also in confronting the challenges of terrorism and extremism imposed on Afghanistan and its people. The Prime Minister reiterated India’s support to an Afghan-led, Afghan-owned and Afghan-controlled peace and reconciliation process that would enable Afghanistan to continue as a united, peaceful, inclusive and democratic nation and emerge as an economically vibrant country. The Prime Minister emphasized India’s unwavering commitment to support the efforts of the Government of Afghanistan to this end, as also for the security and sovereignty of Afghanistan. He unequivocally condemned terrorist attacks and violence in Afghanistan which have caused immense loss of precious human lives and expressed solidarity with the people and national defence forces of Afghanistan in their fight against terrorism. While expressing satisfaction at the coordination and consultation on activities at various international fora, the two sides agreed to strengthen this cooperation and also to work even more closely with their regional and international partners for prosperity, peace, stability and progress.
Cabinet approves continuation of Rastriya Yuva Sashaktikaran Karyakram Scheme for the Period 2017-18 to 2019-2020

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the continuation of Rastriya Yuva Sashaktikaran Karyakram Scheme for the Period 2017-18 to 2019-2020 with budget outlay of Rs.1160 crore as recommended by EFC. Features: During 12th FYP period, in rationalization exercise undertaken in consultation with Ministry of Finance and NITI Aayog, the eight schemes were brought under the umbrella scheme of Rashtriya Yuva Sashaktikaran Karyakram as sub-schemes. This has helped in achieving better synergies between the Schemes and thereby, improves their effectiveness and help in achieving better outcomes with the available resources. The Scheme beneficiaries are the youth in the age-group of 15-29 years, in line with the definition of ‘youth’ in the National Youth Policy, 2014. In case of programme components specifically meant for the adolescents, the age-group is 10-19 years. Following are eight sub-schemes under Rashtriya Yuva Sashaktikaran Karyakram: Nehru Yuva Kendra Sangathan(NYKS); National Youth Corps (NYC); National Programme for Youth & Adolescent Development (NPYAD); International Cooperation; Youth Hostels (YH); Assistance to Scouting & Guiding Organizations; National Discipline Scheme (NDS); and National Young Leaders Programme (NYLP). Background: The Rashtriya Yuva Sashaktikaran Karyakram Scheme is an ongoing Central Sector Scheme of the Ministry of Youth Affairs & Sports and has been continuing since 12th Five Year Plan. The Scheme aims to develop the personality and leadership qualities of the youth and to engage them in nation building activities.
Cabinet approves Productivity Linked Bonus for Railway Employees

Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted Railway employees About 11.91 lakh non-gazetted Railway employees are likely to benefit from the decision Payment of 78 days’ PLB to railway employees has been estimated to be Rs. 2044.31 crore The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the payment of Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2017-18 for all eligible non-gazetted Railway employees (excluding RPF/RPSF personnel). The financial implication of payment of 78 days’ PLB to railway employees has been estimated to be Rs.2044.31 crore. The wage calculation ceiling prescribed for payment of PLB to the eligible non-gazetted railway employees is Rs.7000/- p.m. The maximum amount payable per eligible railway employee is Rs.17,951 for 78 days. About 11.91 lakh non-gazetted Railway employees are likely to benefit from the decision. The Productivity Linked Bonus on Railway covers all non-gazetted railway employees (excluding RPF/RPSF personnel) who are spread over the entire country. Payment of PLB to eligible railway employees is made each year before the Dusshera/ Puja holidays. The decision of the Cabinet shall be implemented before the holidays for this year as well. For the year 2017-18 PLB equivalent to 78 days’ wages will be paid which is expected to motivate the employees for working towards improving the performance of the Railways. Background: Railways were the first departmental undertaking of the Government of India wherein the concept of PLB was introduced in the year 1979-80. The main consideration at that time was the important role of the Railways as an infrastructural support in the performance of the economy as a whole. In the overall context of Railway working, it was considered desirable to introduce the concept of PLB as against the concept of Bonus on the lines of ‘The Payment of Bonus Act – 1965’.
PM to visit Kumbh at Prayagraj Tomorrow

Prime Minister Shri Narendra Modi will pay visit to Kumbh at Prayagraj tomorrow. At Kumbh, he will participate in the Swachh Kumbh Swachh Aabhaar event, organized by Ministry of Drinking Water & Sanitation. The Prime Minister will distribute the Swachh Kumbh Swachh Aabhaar awards to Safai Karmacharis, Swachhagrahis, Police Personnel and Naviks.There will also be the digital announcement of Swachh Seva Samman Benefits package. PM will later address the gathering. Prime Minister will take a snaan at Triveni Sangam. He will also interact with Safai Karmacharis at Prayagraj. Cleanliness and Swacch Bharat initiatives were given unprecedented focus in Kumbh organized at Prayagraj this year. The Prime Minister by presenting the Swachh Kumbh Swachh Aabhar awards will honour those who have played a vital role in ensuring a Swachh Kumbh.