TNPSC Current Affairs April 2017
1.Cabinet approves setting up of Indian Institute of Petroleum and Energy at Visakhapatnam
Union Cabinet has given its nod for setting up Indian Institute of Petroleum and Energy (IIPE) at Visakhapatnam in Andhra Pradesh. It was set up as an Institute of National Importance through an Act of Parliament.
About the Institute:
- The Main objective of the institute is to meet the quantitative and Qualitative gap in the supply of skilled manpower for the petroleum sector.
- It also committed to promote research activities needed for the growth of the petroleum sector.
- The institute is decided to set up under the 13 schedule of Andhra Pradesh Reorganization Act, 2014
- The academic and research activities of institute will derive strength from the institute’s proximity to sector-related activities such as KG-Basin, Visakhapatnam refinery and the planned Petrochemical complex at Kakinada.
- Temporary campus has been set up from the Andhra University Campus with two undergraduate programmes namely, Petroleum Engineering and Chemical Engineering from 2016-2017 and IIT, Kharagpur has taken up the responsibility of mentoring the Institute.
2.Cabinet approves MoU for establishment of BIMSTEC Grid Interconnection
The Union Cabinet has approved the proposal for signing of MoU (Memorandum of Understanding) for establishment of the BIMSTEC Grid Interconnection. The proposal will be signed among the member of BIMSTEC at the 3rd BIMSTEC Energy Ministers meeting to be held in Nepal.
- It will provide a broad framework for the Parties to cooperate towards the implementation of grid interconnections for the trade in electricity with a view to promoting rational and optimal power transmission in the BIMSTEC region.
- the optimization of using the energy resources in the region for mutual benefits on non-discriminatory basis subject to laws, rules and regulations of the respective Parties;
- the promotion of efficient, economic, and secure operation of power system needed through the development of regional electricity networks;
- the necessity of optimization of capital investment for generation capacity addition across the region; and power exchange through cross border interconnections.
BIMSTEC is a Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation(BIMSTEC) comprising Bhutan, Bangladesh, India, Nepal, Sri Lanka, Myanmar and Thailand. It was Established on 1997 and its headquarters is at Dhaka, Bangladesh.