The Union Cabinet has given its nod for enhancement of governing powers of the board of directors of the Nuclear Power Corporation of India Limited (NPCIL), allowing it to incur capital expenditure up to Rs 500 crore.
The move will help reduce the gestation period while allowing it to use its surplus funds for setting up financial joint ventures and subsidiaries.
The Cabinet committee on economic affairs (CCEA) also decided to cap the allocation of wheat and rice at 85 lakh tonne for distribution to above poverty line families in the states through the public distribution system for the next fiscal.
Briefing reporters after the cabinet meeting, finance minister P Chidambaram said that the 85 lakh tonne limit for 2008-09 is equivalent to the total off-take of foodgrains by states for the families in the above poverty line category in 2006-07.
That apart, the government has decided to declare 14 rivers as national projects providing for nearly full central assistance for their upkeep. The move would increase irrigation, while harnessing the hydro energy potential.
On Thursday, the government also gave its approval electrification of the Barauni-Guwahati rail route, The estimated expenditure for this is projectedto be Rs 505.68 crore.
?The electrification of Barauni-Katihar-Guwahati will facilitate running long distance freight and passenger trains, including Rajdhani and Garib Rath Express towards North East end-to-end on electric traction,? railways minister Lalu Prasad said, adding that the electrification would involve 809 kilometres rail route.