Question-Recently, the central cabinet has given its ex-post facto approval for a Memorandum of Understanding (MoU) signed between India and Belarus in the sector of oil and gas. For which period MoU will remain in force from the day of its signing?
(a) 2 years
(b) 3 years
(c) 4 years
(d) 5 years
Answer-(b)
Related Facts:
- On September 27th, 2017, the Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for a Memorandum of Understanding (MoU) signed between India and Belarus in the oil and gas sector.
- The MoU was signed on 12th September, 2017 during the visit of President of Belarus to India.
- Under the MoU, both sides will work towards establishing cooperation in the areas of upstream and downstream activities, capacity building, technology transfer, enhanced oil recovery and development of mature fields in India.
- It is envisaged to enhance the economic and commercial cooperation between the two sides in oil and natural gas sector.
- The MoU shall remain in force for three years from the day of its signing.
- The MoU will promote bilateral relationship between India and Belarus.
Reference :
http://pib.nic.in/newsite/PrintRelease.aspx?relid=171163
http://pib.nic.in/newsite/PrintHindiRelease.aspx?relid=67349
http://pib.nic.in/newsite/PrintHindiRelease.aspx?relid=67350