Union Cabinet approves Indo-Bangla MoU
Q. Union Cabinet on 15th March 2017 approved MoU for border haats with which country?- Published on 17 Mar 17
The Union Cabinet on 15 March 2017 approved the revised Mode of Operation (MoO) and Memorandum of Understanding (MoU) between India and Bangladesh to establish the Border Haats on India-Bangladesh Border.
The Revised MoU and Mode of Operation will provide a legal framework for establishment and operationalisation of additional Border Haats.
These Border Haats are being created with an aim to promote the well-being of the people dwelling in the remote areas across the borders of the two countries.
Besides promoting the well-being of people who are the residents of the remote areas, these haats will help in promoting the traditional system of marketing the local produce through local markets.
These measures help to improve the economic well-being of marginalised sections of society. The approval to this revised MoU and MoO was given at a Union Cabinet meet chaired by Prime Minister Narendra Modi.Border Haats: Know More
- At present, four Border haats are operational between the two countries, two each in Tripura and Meghalaya.
- These haats were established under the MoU and Mode of operation of Haats earlier signed between Bangladesh and India on 23 October 2010.
- On 15 May 2012, an addendum to the mode of operation of Border Haats was also signed.
- The border haats were created with an objective to boost the trade between the two countries.
- The trade in these haats is permitted in Indian Rupees and Bangladeshi Taka as well as on barter basis. Data of such trade is managed by the Haat Management Committee of the respective haats.
- As per reports of December 2016, the data furnished by the concerned state governments said that the cash trade was equivalent to Rs 1686.62 lakhs.
- This transaction was carried out at the four border haats in the five-year period ending 2015-16.
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