CABINET APPROVALS AND BILLS PASSED


Monthly Current Affairs January 2016 “CABINET APPROVALS AND BILLS PASSED” key points to Remember.
The Negotiable Instruments
(Amendment) Bill, 2015 notified The Negotiable Instruments (Amendment) Bill, 2015 was passed by the Parliament in the recently concluded Winter Session of the Parliament. The Negotiable Instruments (Amendment) Act, 2015 received the assent of the President on the 26th December, 2015 and has been published in the Gazette of India, Extraordinary on 29th December, 2015. The provisions of the Negotiable Instruments (Amendment) Act, 2015 shall be deemed to have come into force on the 15th Day of June, 2015.
Cabinet apprised of the signing of protocol with Czech Republic
The Union Cabinet, chaired by the Prime Minister Narendra Modi, has been apprised of the protocol signed earlier between India and Czech Republic in the field of heavy industry, especially in industrial cooperation and facilities construction. The Protocol includes the intent for modernization of the existing facilities in India by the Czech companies,
including modernization of three plants of Heavy Engineering Corporation, a Central Public Sector Enterprises under the Department of Heavy Industries at Ranchi, set up with Czech support in the early 1960’s.
Cabinet approves Stand Up India Scheme
The Union Cabinet, chaired by the Prime Minister Narendra Modi, has approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST and Women entrepreneurs. The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for each category of entrepreneur. It is expected to benefit atleast 2.5 lakh
borrowers. The expected date of reaching the target of at least 2.5 lakh approvals is 36 months from the launch of the Scheme.
Cabinet gives ex-post facto approval to India-Bahrain Agreement
The Union Cabinet under the Chairmanship of Prime Minister Narendra Modi has given its ex-post facto approval to the Agreement between India and Bahrain on Cooperation in Combating International Terrorism, Transnational Organized Crime and Trafficking in Illicit Drugs, Narcotic and Psychotropic Substances and Precursors Chemicals and its ratification. The MOU shall come into force from the date of exchange of the instruments of ratification.
Cabinet approves Pradhan Mantri Fasal Bima Yojana
The Union Cabinet chaired by the Prime Minister Narendra Modi today has approved the Pradhan Mantri Fasal Bima Yojana – a path breaking scheme for farmers’ welfare. There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be
paid by farmers will be only 5The premium rates to be paid by farmers are very low and balance premium will be paid by the Government to provide full insured amount to the farmers against crop loss on account of natural calamities.