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Politics

Decisions taken by the Union Cabinet

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Economy so far (May 25, 2017)

Income Tax Department Steps-up actions under Benami Transactions (Prohibition) Amendment Act, 2016 – The Income-tax Department (ITD) has initiated actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 (the Act) w.e.f. 1st November, 2016. The Prohibition of Benami Property Transactions Rules, 2016 have been framed in this regard. As per the Act, Benami property includes movable or immovable property, tangible or intangible property, corporeal or incorporeal property. It empowers provisional attachment and subsequent confiscation of benami properties.

Boost to Metro Rail Connectivity Cabinet approves Noida – Greater Noida Metro Rail Project – The Union Cabinet has approved the Noida – Greater Noida Metro Rail Project covering a length of 29.707 k.m. Total completion cost of the project is Rs.5,503 crore. Metro rail connection between NOIDA and Greater NOIDA will result into people being assured about their mobility and thus more people will like to move to these satellite towns of Delhi , thus decongesting Delhi . As a result, more residential and commercial complexes will develop in this region.

Cabinet approves phasing out Foreign Investment Promotion Board – The Union Cabinet has given its approval to the phasing out of Foreign Investment Promotion Board (FIPB). The proposal entails abolishing the FIPB and allowing administrative Ministries/Departments to process applications for FDI requiring government approval. Henceforth, the work relating to processing of applications for FDI and approval of the Government thereon under the extant FDI Policy and FEMA, shall now be handled by the concerned Ministries/Departments in consultation with the Department of Industrial Policy & Promotion(DIPP), Ministry of Commerce, which will also issue the Standard Operating Procedure (SOP) for processing of applications and decision of the Government under the extant FDI policy.

Green energy can create 58,000 jobs in India by 2022 – Employment opportunities in India ’s renewable energy sector are going to almost double by 2022, according to the International Renewable Energy Agency (IRENA). The Council on Energy Environment and Water and the National Research Development Corporation project that utility and park scale PV (photovoltaic) projects through 2022 could create 58,000 direct jobs in India . IRENA estimates that employment in India ’s renewable energy sector has grown to 60,500 in 2016 from 48,000 jobs in 2015.

Cabinet approves allocation of 2.5% of Central Road Fund for development and maintenance of National Waterways (NWs) by amending in the Central Road Fund Act, 2000 – The Union Cabinet has accorded its approval today to a proposal jointly mooted by the Ministry of Shipping and the Ministry of Road Transport & Highways (MoRTH) for amendment of Central Road Fund Act, 2000 to allocate 2.5% of the proceeds of Central Road Fund (CRF) for development and maintenance of National Waterways (NWs) and a reduction in the share provided for development of National Highways.

Cabinet approves Raising of Bonds of Rs. 2360 crores for Renewable Energy – The Union Cabinet has given its approval to Raising of Bonds of Rs. 2360 crores for Renewable Energy. The Bonds will be raised by the Ministry of New & Renewable Energy (MNRE) through the Indian Renewable Energy Development Agency (IREDA) during the 2017-18. These funds will be used by MNRE in the approved programmes/schemes for solar park, green energy corridor, generation-based incentives for wind projects, CPSU and defence solar projects, viability gap funding for solar projects, roof-top solar, off-grid/grid-distributed and decentralized renewable power, investment in corporations and autonomous bodies etc.

Cabinet approves policy for providing preference to ‘Make in India ‘ in Government procurements
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has approved a policy for providing preference to ‘Make in India ‘ in government procurements. The new policy will give a substantial boost to domestic manufacturing and service provision, thereby creating employment. It will also stimulate the flow of capital and technology into domestic manufacturing and services. It will also provide a further thrust towards manufacture of parts, components, sub-components etc. of these items, in line with the vision of ‘Make in India ‘.
The new policy is the reflection of the Government of India to encourage ‘Make in India ’ and promote manufacturing and production of goods and services in India with a view to enhancing income and employment. Procurement by the Government is substantial in amount and can contribute towards this policy objective. Local content can be increased through partnerships, cooperation with local companies, establishing production units in India or Joint Ventures (JV) with Indian suppliers, increasing the participation of local employees in services and by training them.
v Cabinet apprised of Memorandum of Understanding (MoU) between India and Bangladesh on cooperation in the peaceful uses of outer space
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) between India and Bangladesh on cooperation in the peaceful uses of outer space. The MoU was signed at New Delhi in April, 2017. This MoU shall enable the areas of cooperation such as, space science, technology and applications including remote sensing of the earth; satellite communication and satellite based navigation; Space science and planetary exploration; use of spacecraft and space systems and ground system; and application of space technology.
The MoU would lead to set up a Joint Working Group, drawing members from Department of Space/ Indian Space Research Organisation (DOS/ISRO), and the Bangladesh Telecom Regulatory Commission (BTRC), which will further work out the plan of action including the time-frame and the means of implementing this MoU. It will provide impetus to explore newer research activities and application possibilities in the field of remote sensing of the earth; satellite communication; satellite navigation; space science and exploration of outer space.
Financing of works carried out under this MoU shall be provided by the respective executive organisation with due consideration of national norms and rules concerning budgetary regulations in force in their respective States and within the limits of available resources. Joint projects and works carried out under this MoU depending on the type and field of activity shall be on non-commercial or commercial basis and shall be executed either without mutual payments or on the basis of compensatory arrangements or contracts. The MoU would lead to develop a joint activity in the field of application of space technologies for the benefit of humanity. Thus all sections and regions of the country will get benefited.
v Boost to Metro Rail Connectivity Cabinet approves Noida – Greater Noida Metro Rail Project
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the Noida – Greater Noida Metro Rail Project covering a length of 29.707 k.m. Total completion cost of the project is Rs.5,503 crore. Metro rail connection between NOIDA and Greater NOIDA will result into people being assured about their mobility and thus more people will like to move to these satellite towns of Delhi , thus decongesting Delhi . As a result, more residential and commercial complexes will develop in this region. With metro rail in place, there will be less vehicular traffic on roads leading to less congestion, less time and cost of journey, less consumption of fossil fuel and less environmental pollution. People of Noida-Greater Noida, which has a population of approx. 7.50 Lakhs and people of surrounding areas will be benefitted with this metro link.
Project will be implemented by Noida Metro Rail Corporation Limited, which will be a 50:50 jointly owned company of Govt. of India and Govt. of Uttar Pradesh. The existing Noida Metro Rail Corporation Limited (NMRCL) which is a State owned Special Purpose Vehicle (SPV) will be converted into a joint SPV of Government of India (Gol) and Government of Uttar Pradesh (GoUP), for implementation of the project. The project would generate significant direct and indirect employment of skilled, semi-skilled and unskilled workforce. Substantial indirect employment will also be generated during construction and operation phases.
The project is scheduled to be completed by April, 2018 as per the Detailed Project Report (DPR). About 70% progress of civil work and 40% of overall financial progress of the project have been achieved. Project will be covered under the legal framework of Central Metro Acts, Metro Railways (Construction of Works) Act, 1978 and the Metro Railways (Operation and Maintenance) Act, 2002, as amended from time to time.
v Cabinet approves Raising of Bonds of Rs. 2360 crores for Renewable Energy
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has given its approval to Raising of Bonds of Rs. 2360 crores for Renewable Energy. The Bonds will be raised by the Ministry of New & Renewable Energy (MNRE) through the Indian Renewable Energy Development Agency (IREDA) during the 2017-18. These funds will be used by MNRE in the approved programmes/schemes for solar park, green energy corridor, generation-based incentives for wind projects, CPSU and defence solar projects, viability gap funding for solar projects, roof-top solar, off-grid/grid-distributed and decentralized renewable power, investment in corporations and autonomous bodies etc. Such timely investment would boost infrastructure in renewable sector and facilitate achievement of ambitious targets for the renewable energy sector. The resources raised would be used for developing additional capacity in renewable energy sector which would result in generation of additional employment.
v Cabinet approves Joint Declaration of Intent between Germany and India regarding cooperation in the sector of alternative medicine
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the Joint Declaration of Intent (JDI) between Germany and India regarding cooperation in the sector of alternative medicine. The signing of the JDl will enhance bilateral cooperation between the two countries in the areas of traditional/alternative medicine. Initiation of collaborative research, training and scientific capacity building in the field of alternative medicine under the JDI between the two countries would contribute to the enhanced employment opportunities in the AYUSH sector. There are no additional financial implications involved. The financial resources necessary to conduct research, training courses, conferences / meetings will be met from the existing allocated budget and existing plan schemes of Ministry of AYUSH.
v Cabinet approves phasing out Foreign Investment Promotion Board
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has given its approval to the phasing out of Foreign Investment Promotion Board (FIPB). The proposal entails abolishing the FIPB and allowing administrative Ministries/Departments to process applications for Foreign direct investment (FDI) requiring government approval. Henceforth, the work relating to processing of applications for FDI and approval of the Government thereon under the extant FDI Policy and Foreign Exchange Management Act (FEMA), shall now be handled by the concerned Ministries/Departments in consultation with the Department of Industrial Policy & Promotion(DIPP), Ministry of Commerce, which will also issue the Standard Operating Procedure (SOP) for processing of applications and decision of the Government under the extant FDI policy. In addition, Foreign Investors will find India more attractive destination and this will result in more inflow of FDI. The move will provide ease of doing business and will help in promoting the principle of Maximum Governance and Minimum Government.
v Cabinet approves Memorandum of Understanding (MoU) between Spain and India on cooperation in the field of Organ Transplant Services
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between the National Transplant Organization, Ministry of Health, Social Services and Equality, Spain and the Directorate General of Health Services, Ministry of Health and Family Welfare, India on cooperation in the field of Organ Transplant Services. The MoU would facilitate bilateral cooperation in the field of organ and tissue procurement and transplantation and better understanding between the two countries. The knowledge gained will help in improving the services rendered to the patients suffering from end stage organ failure. The Memorandum of Understanding is proposed to be signed during the forthcoming bilateral meeting with the Spanish side.
v Cabinet approves construction of electrified third line between Manmad-Jalgaon in Maharashtra
The Cabinet Committee on Economic Affairs, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved the construction of electrified third line between Manmad-Jalgaon in Maharashtra . The total length of the Manmad-Jalgaon line will be 160 km. The estimated cost of the Project will be Rs.1035.16 crore with expected completion cost of Rs.1198.92 crore. The project is likely to be completed in next five years. Construction of third line will greatly ease the ever increasing passenger and freight traffic on Manmad-Jalgaon route thereby increasing the revenue of Railways. Jalgaon and Nashik districts of Maharashtra will be covered by this route.
v Cabinet approves setting up of new AIIMS in Kamrup, Assam
The Union Cabinet, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has given its approval for establishment of new AIIMS at Kamrup (North Guwahati Revenue circle). The cost of the project is Rs.1123 crore and it will be set up under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). The new AIIMS will be completed in a period of 48 months from the zero date (that is the date of the approval of Government of India), broadly comprising a pre-construction phase of 15 months, a construction phase of 30 months and stabilization / commissioning phase of three months.
The Institution will consist of a hospital with a capacity of 750 beds, trauma center facilities, medical college with an intake of 100 MBBS students per year, nursing college with an intake of 60 B.Sc. (Nursing) students per year, residential complexes and allied facilities / services, broadly on the pattern of AIIMS, New Delhi. The hospital will have 22 Speciality/Super-Speciality Departments including 16 Operation Theaters. It will also have an AYUSH department with 30 beds for providing treatment facilities in traditional system of medicine.
v Cabinet approves allocation of 2.5% of Central Road Fund for development and maintenance of National Waterways (NWs) by amending in the Central Road Fund Act, 2000
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has accorded its approval today to a proposal jointly mooted by the Ministry of Shipping and the Ministry of Road Transport & Highways (MoRTH) for amendment of Central Road Fund Act, 2000 to allocate 2.5% of the proceeds of Central Road Fund (CRF) for development and maintenance of National Waterways (NWs) and a reduction in the share provided for development of National Highways. The Cabinet has also directed that while implementing viable National Waterways projects, all such components that can be done on PPP basis, should be explored accordingly and government funding may be used only if private investment is not forthcoming for any component. The Central Road Fund (Amendment) Bill, 2017 would be moved by the Ministry of Road Transport & Highways in the ensuing Monsoon Session, 2017 of the Parliament.
v Cabinet approves transfer of property of Hotel Janpath, New Delhi to Ministry of Urban Development
The Cabinet Committee on Economic Affairs, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has given its ‘In Principle’ approval to transfer the property of Hotel Janpath, New Delhi to Ministry of Urban Development. Hotel Janpath is located in a prime central location of the city. The property can be considered for construction of Government offices and similar purposes which would save government funds spent in hiring of government offices.
Details of implementation of the project, land usages, etc. would be taken subsequently by a Committee of Secretaries to be constituted under the chairmanship of Cabinet Secretary. The building of Hotel Janpath has to undergo major rehabilitation work since the building structure of Hotel Janpath has been found to be unserviceable, in distressed condition and deficit in the context of seismic requirements, according to the inspection report of IIT Roorkee.
v Cabinet approves Fair and Remunerative Price payable by sugar mills for 2017-18 sugar season
The Cabinet Committee on Economic Affairs, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has given its approval for fixing the Fair and Remunerative Price (FRP) of sugarcane at Rs. 255/- per quintal (qt) for sugar season 2017-18 linked to a basic recovery rate of 9.5% subject to a premium of Rs. 2.68 per qtl for every 0.1% point increase in recovery above that level. The approved FRP reflects an increase of 10.87% over the FRP of sugar season 2016-17. The FRP so approved shall be applicable for purchase of sugarcane from the farmers in the sugar season 2017-18 by the sugar mills. The move is a reflection of the Government’s pro-farmer initiatives, keeping in mind the interest of sugarcane farmers and importance of the sugar industry.

By Naresh Sagar

Mentor MSME, Motivator, Media Event Org, Management fiscal & Water management.Social Media branding,Internet broadcasters,Propunder of Indian Philosophy

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