India Australia to ink pact of Secondment Programme for understanding current economic policy issues

New Delhi, February 8: Centre gave a nod for signing Memorandum of Understanding for Secondment Programme between India and Australia with an aim to deeply understand current economic policy issues mutually. The MoU will be signed between India's Department of Economic Affairs and Australia's Treasury for three months, an official statement said.

 

Union Cabinet on Wednesday approved an arrangement between the Ministry of Finance and the Australian Treasury for their respective officers to be temporarily stationed in the other country. This means that an Australian Treasury official will be seconded to the Department of Economic Affairs in the Indian Ministry of Finance while one officer from the department will be seconded to the Australian Treasury for three months.

The Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing of Memoranda of Understanding for Secondment Programme.

"The programme may be repeated in subsequent years with mutual consultation and after agreement on both sides," the statement said.

The validity of both the MoUs will terminate at the end of the three months' period of assignment and the same will not be extendable. The programme may be repeated in subsequent years with mutual consultation and after agreement on both sides.

How will the Secondment Programme impact India Australia ties?

Australia is one of the important bilateral partners of India. The proposed Programme will help to deepen the understanding of current economic policy issues in both countries and also explore further opportunities for future collaboration and engagement. The Programme would also provide the seconded officers with valuable and unique development opportunities and also provide exposure to global best practices.