MoU Current Affairs - 2020

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MoU between India and Germany approved by Union Cabinet

On March 25, 2020, the Union Cabinet chaired by PM Modi approved MoU signed between India and Germany. The MoU was signed between Ministry of Railways and DB Engineering and Consulting GMBH of Germany. The Memorandum was signed in February 2020 and will facilitate technological cooperation in Railway sector.

Key Highlights of the MoU

The technological cooperation under the MoU will facilitate freight operations including automotive transport, cross-border transport and logistics. It will also help in infrastructure building. This includes new dedicated freight corridors and building of new passenger trains.

The agreement will facilitate technology transfers in IT solutions for railway sales, marketing and operations.

Background

The Ministry of Railways is in the mode of modernization of Railway sector. In order to achieve this, the Ministry has signed several agreements, memorandum of cooperation, technical cooperation, with foreign governments. Through these measures, the ministry aims to achieve high speed rails, increasing speed of existing routes, modernization of rail infrastructure and development of world class stations.

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India-Portugal sign 7 agreements

The Portugal President Marcelo Rebelo de Sousa is on a 4-day visit to India. During his visit, he held talks with PM Modi. After their meeting 4 agreements were signed between the countries

Highlights

The countries signed agreements on culture, transport, investment, industrial and intellectual property rights. Agreements were also signed on developing a world class national maritime heritage complex at Lothal.

The GoI also allocated funds for this joint venture in the Budget 2020-21

Budget 2020-21

The Fund allocated in Budget 2020-21 for the Ministry of Culture was 3,150 crores and for that of Ministry of Tourism was 2,500 crores.

The Fund is partly to be used for construction of a maritime museum at Lothal with the help of Portugal Government.

The funds will also be used in developing 5 archaeological sites.  They are Adichanallur in Tamil Nadu, Sivasagar in Assam, Hastinapur in Uttar Pradesh, Dholavira in Gujarat and Rakhigarhi in Haryana

Also, a tribal museum is to be set up at Ranchi, Jharkhand.

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