TENURE of OBC Commission extended till 31/01/2021

AS part of India’s Look East Policy, ONGC will invest 990 crore rupees for research and development of two Gas blocks in Myanmar. Urban Cooperative and Multi-State Cooperative banks will be brought under the direct supervision of Reserve  Bank of India to ensure financial security for the account holders in nearly 1,540 such banks. The government will bring an ordinance in this matter shortly. The decisions on the issues have been taken by the Union Cabinet, said Union Information and Broadcasting Minister Prakash Javadekar. A cabinet meeting held under the chairmanship of Prime Minister Narendra Modi on Wednesday, 24 June 2020 ratified the decision of boosting private sector participation in the space sector in the country. Union Atomic Energy and Space Minister, Dr. Jitendra Singh said that that government will constitute Indian National Space Promotion and Authorization Centre (IN-SPACE) for effective socio-economic usage of space technology. Dr Singh added that the Public Sector Enterprise, New Space India Limited (NSIL) will endeavour to re-orient space activities from a supply-driven model to a demand-driven model, thereby ensuring optimum utilization of our space assets. Javadekar said the government has also taken a decision to develop an International Airport in Kushinagar district in Uttar Pradesh. Lord Buddha passed away at  Kushinagar aged  80 around 484 BCE. Highlighting the impetus which the decision will provide to International Tourism in the country by connecting the Buddha Circuits, the minister informed, that it will also help in the development of all nearby tourist destinations including Sarnath and Gaya among others. Another landmark decision taken by the Union Cabinet is to provide employment to nearly 35 lakh youths in the country. the government introduced an Rs. 15,000 crore Animal Husbandry Infrastructure Development Fund for infrastructure-related development in animal husbandry, dairy and livestock-related enterprises. Under the scheme, up to 90 percent of loan for starting such enterprises will be given by banks. The government has also extended an Interest subvention of 3 per cent on all such loans under the scheme. The Development Fund will incentivise infrastructure investments in dairy, meat processing and animal feed plants. Eligible beneficiaries under the Scheme would be Farmer Producer Organizations (FPOs), MSMEs, Section 8 Companies, Private Companies and individual entrepreneurs. Javadekar, who was briefing media on the cabinet decisions, said that the government has extended a 2 percent interest waiver to nearly 9 crores 37 lakh Mudra Shishu loan borrowers. The tenure of OBC Commission, set up to suggest better ways for effective transfer of benefits to the Other Backward Classes in the country, has been extended till 31st January of next year.