Union Cabinet approves to expand visa-free diplomatic travel to more countries
The Union Cabinet has given its nod to the Model Agreement on exemption from visa requirements for the holders of diplomatic and official passports.
Decision in this regard was taken by Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
This move would facilitate visa-free entry, stay up and transit for holders of diplomatic and official passports of either country to 90 days (or less) in any period of 180 days (or more) in India or signatory country for holders of diplomatic and official passports of either country.
This decision was taken is part of India’s ongoing efforts to expand the envelope of visa-free travel for holders of diplomatic and official passports to other countries of the world. So far, India has signed visa free agreements with 69 countries. There are still more than 130 countries with which India is yet to sign or enter into similar Agreements.
Investment of Rs. 5,000 crore by ONGC Limited in ONGC Videsh Limited
The Cabinet Committee on Economic Affairs (CCEA) also has given its approval for investment of 5,000 crore rupees by Oil and Natural Gas Company Limited (ONGC) into the equity share capital of ONGC Videsh Limited (OVL).
This investment would be done through conversion of existing loan of equivalent amount into equity and will help strengthen the capital base of OVL. It will also enhance the ability of ONGC to undertake overseas Exploration and Production (E&P) business in turn contributing to improve the energy security of the country.
Categories: India Current Affairs 2017