New Delhi/UNI: The Cabinet has approved the proposal to declare Ayodhya Airport as an International Airport and naming it as “Maharishi Valmiki International Airport, Ayodhyadham” on Friday here.

This decision is paramount for realizing Ayodhya's economic potential and its significance as a global pilgrimage site, opening doors to foreign pilgrims and tourists, an official statement said.

The airport’s name, "Maharishi Valmiki International Airport, Ayodhyadham," pays homage to Maharishi Valmiki, the sage attributed to composing the epic Ramayana, adding a cultural touch to the airport's identity.

The Union Cabinet chaired by Prime Minister Narendra Modi has also approved the signing of a Memorandum of Understanding (MoU) between India and the United States for International Development (USAID) for supporting Indian Railways to achieve Mission Net Zero Carbon Emission.

The MoU will provide a platform for Indian Railways to interact and share the latest developments and knowledge in the railway sector.

It will facilitate utility modernization, advanced energy solutions and systems, regional energy and market integration and private sector participation and engagement, training and seminars focusing on specific technology areas like Renewable Energy, energy efficiency and other interactions for knowledge sharing.

In an effort to strengthen bilateral trade and foster investment with Guyana, the Cabinet approved the signing of MoU between the Ministry of Petroleum & Natural Gas, Government of India and the Ministry of Natural Resources, Republic of Guyana on cooperation in the hydrocarbon sector.

This initiative will provide an opportunity to Indian company to participate in E&P sector of Guyana, gaining experience by working with global oil and gas companies in upstream projects, thus fostering the vision of “Aatmanirbhar Bharat” the official statement said.

In another decision, the Cabinet approved the overarching scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences, for implementation during the period from 2021-26 at an overall cost of Rs. 4,797 crores.

The scheme encompasses five ongoing sub-schemes namely “Atmosphere & Climate Research-Modelling Observing Systems & Services (ACROSS)”, “Ocean Services, Modelling Application, Resources and Technology (O-SMART)”, “Polar Science and Cryosphere Research (PACER)”, “Seismology and Geosciences (SAGE)” and “Research, Education, Training and Outreach (REACHOUT)”.

It has also approved the Memorandum of Understanding between Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) concerning cooperation on the development of a Joint Small Satellite.

This MoU will help to establish a framework for cooperation between ISRO and MRIC on the development of a joint satellite as well as for cooperation on the use of the MRIC’s Ground Station.

Some of the subsystems for the joint satellite will be taken up through the participation of Indian industries and would benefit the industry.