- Open Acreage Licensing Programme
- NITI Aayog
Focus: GS III- Industry and Infrastructure (Industrial Policy, Infrastructure, Government Policies and Interventions)
Why in News?
Recently, the Government of India has launched the OALP Bid Round-VIII, offering 10 blocks for International Competitive Bidding.
Open Acreage Licensing Programme (OALP)
- The Hydrocarbon Exploration and Licensing Policy (HELP) replacing the erstwhile New Exploration Licensing Policy (NELP) was approved in March 2016 and the Open Acreage Licensing Policy (OALP) along with the National Data Repository (NDR) were launched in June 2017 as the key drivers to accelerate the Exploration and Production (E&P) activities in India.
- Under OALP, companies are allowed to carve out areas they want to explore oil and gas in.
- Companies can put in an expression of interest (EOI) for any area throughout the year but such interests are accumulated thrice in a year. The areas sought are then offered for bidding.
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Focus: GS II- Polity and Governance
Why in News?
NITI Aayog welcomed Shri Parameswaran Iyer as NITI Aayog’s CEO.
About NITI Aayog
- The NITI Aayog serves as the apex public policy think tank of the GoI.
- It was established in 2015, by the NDA government, to replace the Planning Commission which followed a top-down model.
- It advises both the centre and states on social and economic issues.
- It is neither a constitutional body nor a statutory body but the outcome of an executive resolution. It was not created by the act of parliament.
It has two Hubs.
- Team India Hub acts as interface between States and Centre.
- Knowledge and Innovation Hub builds the think-tank acumen of NITI Aayog.
Click Here To Read More: NITI Aayog