PM Modi-led Cabinet approves key decisions – from skilling 1 crore youth to NBCC disinvestment

By: | Updated: July 13, 2016 3:38 PM

The Cabinet chaired by PM Narendra Modi today approved a slew of decisions, from skilling youth to disinvestment and infrastructure projects.

cabinet decision, cabinet modi, modi cabinet key decisionsIn a big move, the Cabinet approved a scheme by which 1 crore youth will be skilled under the Pradhan Mantri Kaushal Vikas Yojana. (Reuters Photo)

The Cabinet chaired by PM Narendra Modi today approved a slew of decisions, from skilling youth to disinvestment and infrastructure projects. We take a look at some of the key decisions.

1) CCEA has approved disinvestment of 15% paid-up equity in NBCCL through the OFS route. The government holds 90 per cent in the company, which has a market capitalisation of Rs 14,274 crore. The government hopes to raise Rs 1,706 crore from this disinvestment.

2) In a big move, the Cabinet approved a scheme by which 1 crore youth will be skilled under the Pradhan Mantri Kaushal Vikas Yojana in the coming 4 years (2016-2020). The Cabinet approved modification & continuation of PMKVY with the ‘Skill Development Component’ outlay of Rs 12,000 crore

3) Cabinet also approved the revised cost estimates of Rs 7,290 crore for ongoing 1020 MW for Punatsangchhu-II Hydroelectric project in Bhutan

4) Cabinet gave its nod for various facilities to persons from minority communities from Afghanistan, Bangladesh & Pakistan. The decision makes visa conditions easy to for minorities -Hindu, Sikhs, Buddhists, Christians, Parsis – from Bangladesh Pakistan & Afghanistan in India.

5) CCEA approved the transfer of shares by ITI Ltd to Special National Investment Fund to meet SEBI’s minimum public shareholding requirement.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition