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The government on Wednesday decided to allow domestic crude oil producers to market their products. Now domestic oil producers will be free to sell oil to whomever they want. Detailing about the decision taken in the Union Cabinet meeting, Information and Broadcasting Minister Anurag Thakur has said that the Cabinet has approved the marketing and sale of domestically produced crude oil.
From October 1, the condition of selling crude oil to the government or its nominated or government companies under production sharing contracts (PSC) will be waived. Now domestic crude oil producers will be able to sell their oil to whomever they want.
This decision of the government will benefit domestic companies engaged in the business of crude oil. Earlier, there was a restriction on them to sell their product to government companies, now with this decision of the government, they will not only be able to market their product but also sell it to whomever they want.
Union Minister Anurag Thakur has also informed that the government will computerize all the Primary Agriculture Credit Societies (PACS) in the country at a cost of 2516 crores. At present 63000 PACS are working in the country. The Union Minister has said that by doing this, the efficiency and transparency of their work will increase.
Cabinet approval for digitization of primary agricultural credit societies, employment to more than 15 lakhs
The Government has approved computerization of Primary Credit Societies (PACS) to strengthen cooperatives. Its objective is to increase the efficiency of PACS as well as bring transparency and accountability in their functioning. Under this scheme, Rs 2516 crore will be spent within five years. In this, the central government will give Rs 1,528 crore.
Giving information about the decisions after the meeting of the Union Cabinet, Minister Anurag Thakur said that more than 15 lakh jobs will be created due to this. Said that after the approval of the proposal of Cooperation Minister Amit Shah in the Cabinet Committee on Economic Affairs under the chairmanship of PM Modi, now PACS will be able to work with a comprehensive approach to the economic needs of agriculture.
This will meet the economic needs of small farmers. States will be able to adapt the software according to their needs. With the help of this, digitization of existing and old records will be done. At present there are 13 crore farmers as members of 63,000 PACS. Most of the packs are running manual.
This is a welcome decision of the government. Digitization of PACS will connect farmers to the last mile for the country’s economy. – US Awasthi, Managing Director, IFFCO
CDRI will also be able to work internationally
The Coalition for Disaster Resilient Infrastructure (CDRI) will now be able to operate at an international level. The Cabinet meeting led by PM Modi on Wednesday approved the classification of CDRI as an ‘International Organization’ and signing of Headquarters Agreement with CDRI.
Indian scientists will also get an opportunity to consult with foreign experts. CDRI’s international status will allow Indian scientists and technical institutions as well as infrastructure developers to engage with global experts. This will help India build its capabilities and mechanisms.