The government on Thursday awarded 44 oil and gas exploration blocks, with the maximum going to ONGC and its partners and first timers BHP Billiton-GVK Power, to attract $1.5 billion investment in an attempt to cut reliance on imported energy. Cairn Energy India’s (CEIL-CIL) bid, however, were cancelled.
The Cabinet Committee on Economic Affairs (CCEA) approved the award of these contracts on the recommendations of Empowered Committee of Secretaries. Out of the 45 blocks that received bids in the seventh round of auction under New Exploration Licensing Policy (NELP), bid made by CEIL-CIL was not approved because it “would be detrimental to the government’s interest in future in terms of profit petroleum,” minister of state in Prime Minister's Office, Prithviraj Chavan, told reporters after the CCEA meeting.
The blocks were awarded to Oil and Natural Gas Corporation and Reliance Industries. For GVK Power, the round will mark its entry into the exploration business. It has tied up with BHP Billiton. BP Plc has also made an entry through a tie-up with RIL.
The Cabinet also gave its nod for amending the Trade Marks (Amendment) Bill, 2007 to protect Indian trade marks in other countries and obtain the same kind of safeguard for its trade marks from these countries. This would give a boost to technology transfer through trade mark licensing and franchising and promote business confidence in the Indian IPR system globally. This was done based on the suggestions made by a report of department related parliamentary standing committee on commerce.
The government also approved specific development schemes for the handloom, powerloom and handicrafts sectors that have suffered huge losses both in terms of demand and jobs due to a slowdown in their exports in the bigger markets of US, Europe and Japan in the backdrop of a financial crisis.
In a bid to mitigate severe financial distress faced by farmers in various states, the government has decided to provide financial support of about Rs 765 crore to implement programmes in suicide-prone districts as suggested by farm scientist M S Swaminathan.
The decision also includes financial support of Rs 361.55 crore for promoting research on rubber, coffee, cardamom, pepper and tea. Following high level of distress among farmers and a spate of suicides, the government had in 2006 identified 36 districts in several states like Kerala, Andhra Pradesh, Karnataka and Maharashtra, and had decided to put in place a special plan of action for them.
It had also decided to pay special focus on the tribal plantation farmers of Idukki district in Kerala. The Cabinet also gave in-principle nod for
need-based additional allocations to the ministries and departments concerned to implement measures included in the package, subject to norms and approval of authorities,
he said.