Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday made a series of announcements spanning infrastructure to education including the freight corridor, new IIMs, Jai Prakash Narayan memorial and others. Here they are:
1) 6 new IIMs to be set up in India
Government has cleared the proposal for the setting up of six new IIMs, which will start offering courses from the coming academic session itself. Each institute will take 140 students and admission will be through CAT.
The new IIMs will be located at Visakhapatnam (Andhra Pradesh), Bodh Gaya (Bihar), Sirmaur (Himachal Pradesh),
Nagpur (Maharashtra), Sambalpur (Odisha) and Amritsar (Punjab). (Read full story here)
2) Cabinet revises East-West freight corridor cost to Rs 81,459 crore
Govt approved a sharp revision in the cost estimate for the Eastern and Western Dedicated Freight Corridor (DFC) Project at Rs 81,459 crore, including land costs and financing plan. In 2008, the Cabinet Committee on Economic Affairs (CCEA) had pegged the project cost at around Rs 28,181 crore. The DFC aims to spur economic growth and is being created for the exclusive movement of freight. (Read full story here)
3) Solar Energy Corporation of India (SECI) to be made a commercial company
Government approved the proposal to allow Solar Energy Corporation of India (SECI) to register itself as a Section-3 company to do commercial activities and rename it as Renewable Energy Corporation of India (RECI).
The decision will enable SECI to own solar power plants for generating and selling electricity and take up other commercial activities like manufacturing of solar products and materials.
4) India, Japan to sign pact on increasing IP cooperation
Government approved the signing of an agreement with Japan to increase cooperation in the field of industrial property (IP). The Memorandum of Cooperation will be signed between the Department of Industrial Policy and Promotion (DIPP) and the Japan Patent Office (JPO).
5) India to ship 16.5 MT iron ore to Japan, South Korea
Govt has approved the renewal of agreement for supplying up to 16.5 million tonnes (MT) of high grade iron ore to steel plants in Japan and South Korea over three years till March 2018.
The quantities covered under the agreement will be in the range of 3.8 MT to 5.5 MT per year and will be supplied primarily from the mines of the National Mineral Development Corporation (NMDC), an official statement said.
India has been supplying high grade iron ore to Japan and South Korea under Long Term Agreements for the last four to five decades, the statement said.
6) Memorial for Jai Prakash Narayan in poll-bound Bihar
On the eve of 40th anniversary of imposition of the Emergency, government decided to set up a national memorial for socialist icon Jai Prakash Narayan in his birthplace in Bihar where assembly polls are likely this September-October.
Announcing a number of decisions of the government to honour JP, who had speareaded the fight against the Emergency, Home Minister Rajnath Singh recalled how democratic institutions were “muzzled” during the Emergency as he lauded the contribution of the socialist leader in uniting the country against the “black chapter” of Indian history.
7) Transfer of CRRI land to set up police station
Government has also decided to transfer 0.5 acre of land belonging to the Central Rice Research Institute (CRRI) for setting up of a new police station at Cuttack, Odisha.
With PTI inputs