Page 49 - NIS English 16-31 Aug 2022

n DECISION: Approval given to the NDC. PM Narendra Earlier in 2019, the government also provided
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Modi's mantra of 'Panchamrit' was included in it. an economic package to help BSNL recover
n IMPACT: The latest Nationally Determined from its crisis. Furthermore, the optical fibre
Contribution (NDC) was approved by incorporating network capacity of BSNL will be significantly
the 'Panchamrit' strategy into the advanced climate increased following the merger of BBNL and
goals announced by Prime Minister Narendra Modi BSNL. Currently, BSNL manages the network
at the Glasgow conference. Such efforts will aid from district to block, while BBNL manages
India in its efforts to reduce pollution growth. It will the network from block to panchayat.
protect the interests of the country and safeguard
future development needs based on the principles n DECISION: Cabinet approved an additional
and provisions of the United Nations Climate investment of $1,600 million (about Rs
Change Framework Convention. It is a step towards 12,000 crore) by state-owned Bharat
achieving India's long-term goal of being net-zero Petroleum Corporation Limited (BPCL) in a
by 2070. India has now committed to reducing its Brazilian oil block.
GDP's emission intensity by 45 percent by 2030. n IMPACT: The Cabinet Committee on
Economic Affairs has approved additional
n DECISION: The government has approved a fair and investment in the BM-SEAL-11 Concession
remunerative price for sugarcane farmers, payable by Project in Brazil by Bharat PetroResources
mills during the 2022–23 sugar season. Ltd. (BPRL), a wholly owned subsidiary of
IMPACT:This decision will benefit 5 crore sugarcane BPCL. This will contribute to India's energy
n
growers and their dependents, as well as 5 lakh workers security and crude oil supply diversification. It
working in allied activities related to sugar mills. A will also strengthen India's position in Brazil,
maximum remunerative price of Rs 305/quintal has opening up new business opportunities in
been approved for sugarcane growing farmers so far. neighbouring Latin American countries.
The government of India is committed to improving n BM-SEAL-11 is a Brazilian concession
the economic condition of the farmers and increasing project. The block is likely to start production
the income of the farmers. The government has in 2026–27. BPRL holds 40 percent
increased the fair and remunerative price by more than of this block, while Brazil's national oil
34 percent in the last eight years. The FRP in the 2013- company, Petrobras, holds the remaining
14 sugar season was just Rs 210 per quintal. 60 percent.

New India Samachar August 16-31, 2022 47