Cabinet : exporters will get discount on interest 3 %, government will sell 10 % shares in CIL

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New Delhi: Centre government has made many big decisions to boost infrastructure and export sectors. Prime Minister chaired a Cabinet meeting and approved the revival of the 34 road projects that were stuck on 18th November. Whereas, it has been decided to exempt 3 percent to revive the export sector interest from April 2015. Also Cabinet approved 10 per cent stake in Coal India.

In addition to Orissa , Andhra Pradesh Rs 7,500 crore for 4 rail projects. Rail bridge project in Bihar for the additional investment and IPO Cochin Shipyard has also been approved Cabinet has decided to give relieve to the farmers on sugar directly of 45 on per tonne subsidy into their bank account.

Roads ministry will increase the range of Toll recovery 

After the cabinet meeting, the energy and coal minister Piyush Goyal informed that government is continuously trying to revival in economic from last 18 months. Under this efforts are being made to boost infrastructure. 34 major road infrastructure projects have been approved in a Cabinet meeting. In addition, Road Ministry has been allowed to review the range of toll recovery extension. Road ministry may decide to extend the range of toll recovery. Cabinet Committee on Economic Affairs ( CCEA ) has said that NHAI will give fair compensation to the beneficiaries in project delays.

The government will raise 20 thousand crore, by selling 10 % stake in Coal India

the government has decided a big part of the disinvestment program. Energy Minister Piyush Goyal said that Cabinet has decided 10 per cent disinvestment in CIL. Means, government has decreased 10 per cent of its stake in Coal India. The government hopes to get about Rs 20,000 crore. Currently Coal India share 78.65 per cent stake, after disinvestment that will down 68.65 per cent.The government proposes to raise from disinvestment is 69,500 crore for the current fiscal year 2015-16. 41,000 crore from the minority stake sale in PSUs and the rest Rs 28,500 crore target was placed from strategic sale. The government so far has raised 12,600 crore from disinvestment. The rail projects has approved of Rs.10,000 Crore.Government have taken key decision to improve rail connectivity in Orissa , Andhra Pradesh and Bihar. Central Minister Piyush Goyal has been approved 4 rail project in Orissa and Andhra Pradesh. The estimated cost of four railway projects is Rs 7,500 crore. Goyal proposed that railway projects in Orissa and Andhra Pradesh will help to strengthen in iron and  traffic. The central government will fund for all four proposed rail projects in both states. Goyal said that we are still committed for development in Bihar. Under this, apart from Rs 2,770 crore approved additional investment for Bihar Rail Bridge project. Sugarcane farmers will get subsidy of Rs. 45 per tonne.  The government decided to subsidize 45 per tonne by giving big relief to sugarcane farmers. While giving the information of Cabinet decisions , the Union Minister of Information Piyush Goyal has decided to give 45 per tonne subsidy to sugarcane farmers. The proposed subsidy is for the current crushing season ( 2015-16 ). The subsidies will be directly transfer in the bank account of farmers. The outstanding of Sugarcane farmers will be Rs 6,500 crore. Fair and remunerative Price (FRP ) of cane is Rs 230 per quintal for season. Since the farmers will get 4.5 per quintal subsidy directly. FRP sugar mills will pay the rest amount of sugar mills Rs 182.50 per quintal. Currently , sugarcane price are fully paid fixed by the sugar mills center. FRP of Rs 230 has been fixed for the sugarcane for the season of  October 2015 -September 2016. The total subsidy burden of  Rs 1,250 crore proposed by the Food Ministry. The subsidy will be given by Sugar Development Fund. After resolution, these subsidies will be transferred directly to the farmers account.

 

 

 

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