Infrastructure Current Affairs - 2020
India and Russia have signed 16 agreements across diverse sectors including in defence, infrastructure, energy, space, ship building sectors etc.
They were signed following delegation-level talks co-chaired by Prime Minister Narendra Modi and Russian President Vladimir Putin during the 17th India-Russia Annual Bilateral Summit in Goa.
Some of the signed agreements are
- Agreement on cooperation in International Information Security.
- MoU for expansion of bilateral trade and economic cooperation.
- Shareholder agreement for establishing a Joint Venture to manufacture Ka-226T helicopter in India.
- MoU for developing smart cities in Andhra Pradesh and Haryana and for developing transport logistics systems for such cities.
- MoU between Gazprom and Engineers India Limited (EIL) for the joint study of a gas pipeline to India from Russia and other areas of cooperation.
- Cooperation Agreement between Rosneft Oil Company and ONGC Videsh Limited (OVL) in the area of Education and Training.
- MoU for setting up an investment fund of $1 billion by the National Investment and Infrastructure Fund (NIIF) and the Russian Direct Investment Fund (RDIF).
- MoU for Cooperation between Russian and Indian Railways in increasing the speed of trains between Nagpur- Hyderabad/ Secundrabad.
- MoU between ROSCOSMOS and ISRO on Mutual Allocation of Ground Measurement Gathering Stations for NAvIC and GLONASS.
- Inter-governmental agreements (IGAs) for the procurement of S-400 Air Defence System and construction of 1135.6 series of frigates.
- MoU between India’s Department of Science and Technology and Russia’s Federal Agency for Scientific Organisations.
Tags: Defence • Energy Sector • India-Russia • Infrastructure • Narendra Modi
The Union Finance Ministry has decided that sports infrastructure will be included under the harmonised master list of infrastructure sub-sectors.
Earlier, the Ministry of Youth Affairs & Sports Affairs had moved the proposal for inclusion of sports in the list to address the issue of deficit of sports infrastructure in the country.
- It will include sports stadia and infrastructure for academies for training and research in sports and sports-related activities in the infrastructure sub-sectors.
- With this, sports sector becomes eligible for obtaining long term financial support from banks and other financial institutions on same principle available to other infrastructure projects.
- It will also encourage private investment in a public good which has socio-economic externalities in a country with young population.
- It will also bolster investment in sports infrastructure sector which will contribute to the economy and help in promotion of health and fitness of the people.
- It will also provide opportunities for employment in the new and existing sectors. Besides, investment from private sector will widen the platform from where the country can become a sporting power in future.