The Prime Minister Narendra Modi led Cabinet on Wednesday took a number of critical decisions. It has approved the Andhra Pradesh’ Vijayawada airport as an International airport. In the statement by Finance And Defence Minister Arun Jaitley, it was revealed that the central government and the ITDC would be exiting from the Ashoka Hotels in Bharatpur, Guwahati and Bhopal. The Finance Minister also said that complete equity would also be given to the state governments. The cabinet has also approved the National steel policy. Finance Minister Jaitley said that the cabinet has approved the modifications in the 7th Central pay Commission recommendations on pay and pensionary benefits also.
The Modi cabinet is also reported to have cleared the ordinance to amend the Banking Regulation Act to resolve the NPA crisis. According to PTI, top sources, say that the President’s nod is expected to come very soon. The cabinet has also given a nod to the mechanism for resolution of stressed assets of banks. Finance Minister Arun Jaitley said that the details would be announced after the President’s approval. Th cabinet has also approved the agro marine processing scheme with a Rs 6000 crore outlay during 2016 and 2020.
The Cabinet is reported to have approved the disability pension for defence pensioners. Meanwhile, Defence Minister Arun Jaitley also spoke about the mutilations of the body of 2 Indian soldiers by the Pakistani armed forces and said that even their denial carried no credibility. He said that such an act could not have happened without protection/ participation/ actual indulgence of the Pakistan army itself.