The Cabinet Committee on Economic Affairs (CCEA) has approved the 300-crore rupee package to save standing kharif agricultural and horticultural crops from weak monsoon. The decision was taken at the ccea meeting, chaired by Prime Minister Narendra Modi, in New Delhi last evening. This will help farmers to be better equipped to deal with challenges posed by delayed and aberrant monsoon, as the state governments will be able to initiate immediate remedial measures to save standing agricultural crops and perennial orchards in rainfall deficient districts.<br/><br/>The CCEA gave its nod to a soft loan scheme to the extent of 6,000 crore rupees for the current sugar season. This will ensure that farmers are paid their dues expeditiously. The CCEA has further mandated that banks pass on the financial assistance directly to the cane growers after obtaining the list from the mills.<br/><br/>In order to incentivize mills to clear their dues expeditiously, the government had earlier mandated that soft loans will be provided to only those units which have cleared at least 50 percent of their outstanding arrears by 30th June this year. The Government has provided one-year moratorium on this loan, and will bear the interest subvention cost to the extent of 600 crore rupees for the said period.<br/><br/>The CCEA has also approved the proposal for strengthening the drug regulatory system both at the Central and the State levels at a total cost of 1,750 crore rupees. The strengthening and up-gradation of the system will be spread over a period of three years. Out of the total amount of 1,750 crore rupees, an amount of 900 crore rupees will be spent on strengthening central structures and 850 crore rupees will be made available to the State governments, after signing a Memorandum of Understanding.<br/><br/>The Cabinet has cleared the guidelines on spectrum sharing based on the recommendations of the Telecom Regulatory Authority of India (TRAI). The decision is part of government's commitment to improve spectral efficiency and quality of service.<br/><br/>The Cabinet has also given ex-post-facto approval to an MoU between India and Mongolia to establish basis for cooperative institutional relationship to encourage and promote technical bilateral cooperation on new and renewable energy. This MoU was signed at Ulaanbaatar during the visit of the Prime Minister to Mongolia on 17th May this year.<br/><br/>The Cabinet also gave ex-post-facto approval to an MoU between India and France to establish basis for cooperative institutional relationship to encourage and promote technical bilateral cooperation on new and renewable energy issues. The MoU was signed in Paris, during the visit of the Prime Minister to France on 10th April this year.<br/><br/>The Cabinet also gave its nod to the MoU between India and Nepal for construction of petroleum products pipeline from Raxaul in India to Amlekhgunj in Nepal. The MoU will promote bilateral cooperation in the oil and gas sector and secure long term supply of petroleum products to Nepal.