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The Cabinet on Tuesday approved an exclusive subsidy policy for urea produced through coal gasification by Talcher Fertilizers Limited (TFL).
Joint venture
TFL is a joint venture company of four PSUs -- Rashtriya Chemicals & Fertilizers, GAIL (India), Coal India and Fertilizer Corporation of India, which was incorporated in November 2015.
The estimated project cost of the TFL Urea project is ₹13,277.21 crore. Urea is a widely used fertiliser in India.
It would assist in reducing urea imports to the tune of 12.7 lakh tonne per annum leading to savings in foreign exchange, Piyush Goyal, Minister of Railways, Commerce and Industry, told reporters after the Cabinet meeting.
The Cabinet also approved a fresh Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and Chartered Accountants Australia and New Zealand (CA ANZ).
The two accountancy institutes will have an opportunity to play the leadership role in addressing new challenges facing the profession in a global environment. The engagement between the two institutes is expected to result in greater employment opportunities for Indian chartered accountants and also greater remittances back to India.
CCI signs MoUs
The Cabinet approved MoU between Competition Commission of India (CCI) and Administrative Council for Economic Defense of Brazil (CADE). Accordingly, CCI has entered into six MoUs -Federal Trade Commission and Department of Justice, USA; Director General Competition, European Union; Federal Antimonopoly Service, Russia; Australian Competition and Consumer Commission; Competition Bureau, Canada; and BRICS Competition Authorities.
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