Union Cabinet today approved the Major Port Authorities Bill- 2016 which will replace Major Port Trusts Act- 1963. The Bill seeks to empower major ports to perform with greater efficiency on account of full autonomy in decision making.<br/><br/>It will also promote expansion of port infrastructure and facilitate trade and commerce besides infusing professionalism in governance of port.<br/><br/>The Cabinet also provided its approval for signing of revised Air Services Agreement between India and Nigeria.<br/><br/>Cabinet has also provided ex-post facto approval to the Memoranda of Understanding signed in 2008 and 2011 and the renewal of MoU between the Institute of Chartered Accountants of India and College of Banking and Financial Studies, Oman. <br/><br/>The MoU will facilitate working together for strengthening the accounting, financial and audit knowledge base within Oman.<br/><br/>The Cabinet has approved MoU between Ministry of Rural Development and Food and Agriculture Organization(FAO) to improve the effectiveness of rural development programmes in India and to facilitate knowledge sharing.<br/><br/>Cabinet has also approved protocol amending the agreement between India and Tajikistan for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. <br/><br/>The protocol will enable sharing of information exchanged under Double Taxation Avoidance Agreement with other law enforcement agencies for non-tax purposes. <br/><br/>In an another decision, the Cabinet cleared signing of an agreement with Kyrgyzstan on cooperation in the area of agriculture and food related industry. <br/><br/>It also provided its approval to signing of an MoU with Kyrgystan for strengthening cooperation in the field of Tourism. <br/><br/>Besides, Cabinet also provided its ex-post facto approval to India's approach to Climate Change Negotiations at the Conference of Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCC) organised in Marrakesh, Morocco last month.

Union Cabinet today approved the Major Port Authorities Bill- 2016 which will replace Major Port Trusts Act- 1963. The Bill seeks to <br/>empower major ports to perform with greater efficiency on account of full autonomy in decision making.<br/><br/>It will also promote expansion of port infrastructure and facilitate trade and commerce besides infusing professionalism in governance of port.<br/><br/>The Cabinet also provided its approval for signing of revised Air Services Agreement between India and Nigeria.<br/><br/>Cabinet has also provided ex-post facto approval to the Memoranda of Understanding signed in 2008 and 2011 and the renewal of MoU between the Institute of Chartered Accountants of India and College of Banking and Financial Studies, Oman. <br/><br/>The MoU will facilitate working together for strengthening the accounting, financial and audit knowledge base within Oman.<br/><br/>The Cabinet has approved MoU between Ministry of Rural Development and Food and Agriculture Organization(FAO) to improve the effectiveness of rural development programmes in India and to facilitate knowledge sharing.