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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

India and Australia seal civil nuclear deal for Uranium trade

India and Australia on Friday inked a significant civil nuclear agreement which will allow Canberra to supply uranium to the energy-starved country even as the two countries discussed ways to enhance cooperation in key areas of security and trade. The nuclear pact was signed after a meeting between Prime Minister Narendra Modi and his Australian counterpart Tony Abbott during which the two leaders discussed crucial bilateral, regional and international issues including the situation in Iraq and Ukraine. India and Australia, which has about a third of the world's recoverable uranium resources and exports nearly 7,000 tonnes of it a year, launched talks on uranium sales in 2012 after Canberra lifted a long-time ban on exporting the valuable yellowcake to Delhi to meet its ambitious nuclear energy programme. Aimed at promoting cooperation in the field peaceful uses of nuclear energy, the agreement recognizes India's commitment to and use of nuclear energy with a view to achieving sustainable development and strengthening energy security. Today's pact is significant given that Indian nuclear plants generate around 4680 MW of electricity, of which the 2840 MW was from indigenous uranium while 1840 MW was from imported fuel. The two Prime Ministers directed the negotiators to conclude the Administrative Arrangements pertaining to the civil nuclear pact at an early date.