Promising a simpler foreign investment regime, the government on Thursday introduced a concept of composite cap for all kinds of overseas inflows. It also approved important decisions like upgrading 400 railways stations, six laning of the Eastern peripheral expressway, etc
Here are 10 announcements made by the Union cabinet:
1. In a bid to streamline the FDI structure, the government today introduced a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits.
2. The government today cleared a proposal for six laning of the Eastern peripheral expressway at a cost of Rs 7,558 crore, a move that will help check the growing traffic and pollution in Delhi.
3. The Union Cabinet today approved a power transmission project worth Rs 8,548.68 covering seven states including Andhra Pradesh, Gujarat and Maharashtra.
4. A proposal to redevelop about 400 railways stations in metros and major cities besides pilgrim centres and tourist spots was cleared by the government today.
5. The government today sanctioned an additional Rs 700 crore for the recapitalisation of weak regional rural banks (RRBs) and extended the validity period for the fund infusion to next fiscal.
6. Carrying on with the exercise of repealing irrelevant laws clogging statute books, the government today approved a bill seeking to annul another set of 295 obsolete Acts.
The Repealing and Amending (Fourth) Bill, 2015 will be introduced in Lok Sabha for annulling 295 Acts which have been declared as redundant by respective central ministries.
7. Amid a controversy over not releasing of caste census data, the government today set up an expert group headed by NITI Ayog Vice-Chairman Arvind Panagariya to collate caste count even as it blamed the states for not being able to complete the consolidation of different categories.
8. Government today cleared the utilisation of India’s capital contribution to SAARC Development Fund (SDF) for promoting cross-border infrastructure projects, trade and growth.
9. The government today approved the signing of a pact between India and Canada to enhance technical knowledge in the field of civil aviation and deepen bilateral cooperation between them.
10. In a bid to speed up disposal of pending cases, the Cabinet today cleared phase two of a project to computerise courtrooms and connect them with jails through video conferencing facility so that cases of undertrials can be heard at a faster pace.