Railways inks pact for loco factories
The Railways has signed two contract agreements with US based GE and France based Alstom to set up locomotive factories in Bihar’s Marhowra and Madhepura districts respectively with a aim of boosting manufacturing and employment in the state. The contract valued at Rs. 40,000 crore, is spread over 10 years. The agreement was signed in the presence of Finance Minister Arun Jaitley and Railway Minister Suresh Prabhu. The pact also marks the first big FDI in the railway sector.

MoU between India and Iran on visa facilitation
The Union Cabinet on 2 December 2015 approved the signing of the agreement between India and Iran on visa facilitation for Diplomatic, Official/Service and Ordinary passport holders. As per the agreement, on presentation of an official note by the Ministry of Foreign Affairs stating the purpose of the visit, a non-extendable gratis entry visa will be issued within three working days, with a validity of up to fifteen days, to political authorities and officials travelling for specific bilateral purposes or to participate in a conference or seminar.

India and South Korea MoU on taxation treaty
India and South Korea have inked a new memorandum of understanding (MoU) on suspension of collection of taxes during pendency of mutual agreement procedure. This MoU will relieve the burden of double taxation for taxpayers in both the countries during the pendency of Mutual Agreement Procedure (MAP) proceedings. Besides, both countries also have agreed that transfer pricing dispute cases will be taken up for MAP under the revised Double Tax Avoidance Agreement (DTAA) between India and Korea.

Union Cabinet approves MoU between India and UK in energy sector
The Union Cabinet approved for signing of a Memorandum of Understanding (MOU) on cooperation between India and United Kingdom in the energy sector. The MoU will provide a framework for technical assistance in the energy sector along with in-kind grant and other support through relevant projects initiated by UK. The programme under MoU would help to improve energy security and reliability of supply at both centre and state levels. It would also improve energy access and facilitate sustainable economic growth. The main focus will be on the electricity market structure and the integration of renewable energy into the grid. The MoU also includes the integration of renewable energy into the grid. It includes off-shore wind energy and solar energy and Tidal energy.

Construction work TAPI gas pipeline project begins
The construction work of 1800-kilometre-long Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project has been started at the ancient city of Mary of Turkmenistan. The function was attended by Turkmenistan President Gurbanguly Berdimuhamedow, Afghanistan President Ashraf Ghani, Pakistan Prime Minister Nawaz Sharif and Indian Vice President Mohd Hamid Ansari. TAPI gas pipeline project is a proposed trans-country natural gas pipeline from Caspian Sea, Turkmenistan to India through Afghanistan and Pakistan.

One Response to “December 2015 India & World Current Affairs”

  • kani says:

    Sir, send me all current affairs to my mail id.

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