Recent important cabinet decisions taken by union government are:
- Constitution of tribunal to resolve Mahanadi water disputes
- Creation of National Urban Housing Fund
- Cooperation in rail sector between India and Morocco
- Film coproduction between India and Israel
- Bill to ban unregulated deposit schemes and chit funds
Constitution of tribunal to resolve Mahanadi water disputesUnion cabinet approved setting up of a tribunal to resolve Mahanadi water dispute between two states Odisha and Chhattisgarh.
- The tribunal has been constituted under the Inter-State River Disputes Act, 1956
- The newly constituted tribunal will consist of a chairman and two other members nominated by the Supreme court chief justice from the judges of the Supreme Court or high courts.
The functions of the tribunal are:
- Determining water sharing on the basis of the overall availability in the Mahanadi basin
- Determining utilization of water resources in each state, and the potential for future development
Creation of National Urban Housing FundUnion cabinet chaired by Prime minister approved the creation of a National Urban Housing Fund to finance the government’s Housing for All programme,
Housing for All programme aims to build 12 million affordable housing units in urban areas by 2022.
- The total amount kept in National Urban Housing Fund is Rs 60,000 crore.
- Urban National Housing fund will be placed under the control of the Building Materials and Technology Promotion Council.
Film coproduction between India and IsraelThe Union Cabinet chaired by Modi approved an Agreement on Film Co-production which was signed between India and Israel.
The agreement was signed during the visit of Prime Minister of Israel Mr Benjamin Netanyahu to India.
- With this agreement Indian producer can access Israel funds and can collaborate on the script, talent and distribution with Israel.
- This will also enable a common pool of creative, artistic, technical, financial and marketing resources of the two countries.
Cooperation in rail sector between India and Morocco
- The Union Cabinet chaired by Modi approved to the cooperation of agreement between India and the Moroccan National Railways Office (ONCF)
- The main aim of the agreement is to develop cooperation and partnership in the railway sector.
- The agreement exchange of experience and mutual technical assistance in the railways and technical cooperation between India and Morocco.
Bill to ban unregulated deposit schemes and chit fundsUnion cabinet approved to place a bill in Parliament to ban unregulated deposit schemes
- The main aim of the bill is to curb defrauding of gullible investors.
- The bill also aimed at tackling the menace of illicit deposit-taking activities in the country.
Cabinet approves six rail projects in 4 states
- The union cabinet approved six projects of cost Rs. 11,661 crore for new lines as well as doubling and electrification of tracks
- The approved projects will come in Uttar Pradesh, Madhya Pradesh, Bihar and Odisha.
Smart Prep Kit for Banking Exams by Ramandeep Singh - Download here