Cabinet approves auction of spectrum, Rs 10,000 cr fund for startups

The Union Cabinet took several decisions on Wednesday, including a Rs 10,000 cr fund for startups. Here are the highlights

By: Express Web Desk | New Delhi | Updated: June 22, 2016 4:04:01 pm
 Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Arun Jaitley. PTI Photo by Shahbaz Khan Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Arun Jaitley. PTI Photo by Shahbaz Khan

The Union Cabinet on Wednesday took a slew of decisions including the approval of the Mahatma Gandhi Setu 4-laning project.

Speaking at a press conference after the meeting, Union Ministers Arun Jaitley and Ravi Shankar Prasad highlighted the decisions taken by the Cabinet.

Jaitley also reacted to BJP MP Subramanian Swamy’s attack on CEA Arvind Subramanian saying the government has full confidence in Subramanian. “He has provided valuable insights from time to time,” Jaitley said. Read the full story here.

Here are some of the decisions taken by the Union Cabinet:

* The government has cleared a Rs 10,000 cr fund for startups

* The development of four-laning of Hubli-Hospet section of National Highway-63 in Karnataka has been approved

* Cabinet has also approved the auction of spectrum. More than 2300 MHz spectrum is available for auction across 7 bands

* The government also announced a Rs 6,000-crore boost for apparel manufacturing

* Cabinet also approved a special package aiming to create one crore jobs in three years in the textile and apparel sector

* The government also claimed 1.75 lakh jobs will be created over three years with the new incentives for textiles

* Deadline for states to sign up for Uday scheme has been extended by a year to March 2017

* China ceding space, presence of entire value chain in India, puts us in vantage position, says Textiles Secy Rashmi Verma

* The government has also decided to withdraw the Drugs & Cosmetics Amendment Bill 2013

* On drugs, the government is working on new legislation that will be introduced to comprehensively review the existing law

For all the latest Business News, download Indian Express App

Share your thoughts
Advertisement
Advertisement
Advertisement
Advertisement
Adda
Advertisement
Advertisement