Govt permits MoU between India and BRICS for technology transfer in Energy Savings
 Source : News Bharati English  Date : 17-Dec-2015

New Delhi, December 17: Government has given its ex-post facto approval to a Memorandum of Understanding signed between India and BRICS countries Brazil, Russia, China and South Africa for strengthening energy efficiency cooperation. The MoU provides for joint scientific and technological research, capacity building and technology transfer in the field of Energy Savings and Energy Efficiency. 

The Cabinet also gave its nod to the signing of an agreement by the Ministry of Earth Sciences with the U. K. Met Office, Korea Meteorological Administration and the Commonwealth of Australia for the development of a state-of-art Unified Model Earth System for Seamless Prediction of Weather and Climate.The MoU is likely to be signed in January next year.

The government has approved the methodology for fixing upfront payment and reserve price for allotment of coal mines and blocks for sale to PSUs. The decision was taken in a meeting of Cabinet Committee on Economic Affairs (CCEA) last evening. This will enhance domestic production of coal to meet the demand of national economy thereby reducing import.  

The coal bearing States will be getting additional revenue from such coal mines. The demand for coal in the country is much higher than the current level of production. The gap between consumption and domestic supply is met through imports .