Union Cabinet on Tuesday approved the Indian Institute of Management Bill, 2017 giving the IIM's complete autonomy. They would be able to grant degrees to their students and be declared as Institutions of National Importance. The Cabinet also approved interest waiver for November and December 2016, for farmers who have taken short term crop loans from cooperative banks for the Rabi season. The Cabinet also approved interest subsidy for loans up to two lakh rupees for construction of new houses in the rural housing sector.
The Union Cabinet has given its approval to ratify the Second Commitment Period of the Kyoto Protocol on containing the emission of Green House Gases. The second commitment period of the Kyoto Protocol was adopted in 2012. So far, 65 countries have ratified the Second Commitment Period. In view of the critical role played by India in securing international consensus on climate change issues, this decision further underlines India's leadership and commitment to global cause of environmental protection and climate justice.
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