Updated: March 7, 2019 2:16:16 pm
Union Finance Minister Arun Jaitley Thursday said the Cabinet Committee on Economic Affairs (CCEA) has cleared the proposal for promulgation of “The Central Educational Institutions (Reservation in Teachers’ Cadre) Ordinance, 2019. It also cleared three corridors of Delhi Metro Phase IV.
In the government’s last cabinet briefing ahead of the Lok Sabha elections 2019, the Union minister said the CCEA also approved Rs 2,790 crore interest subvention for extending loans by banks to sugar mills. This is in addition to Rs 1,332 crore already approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2018.
It also approved recommendations of the Group of Ministers (GoM) relating to issues of stressed Thermal Power Projects including grant of coal linkage for short-term power purchase agreements (PPAs). Jaitley said that the recommendations approved include grant of coal linkage for short-term PPAs, allowing existing coal linkage to be used in case of termination of PPAs due to payment default by distribution companies and procurement of bulk power by a modal agency against pre-declared linkages.
The committee also approved the investment sanction for construction of Kiru Hydro Electric (HE) Project (624 MW) located on River Chenab in Kishtwar district of Jammu and Kashmir.
The CCEA also approved the construction of a third railway line between Narayangarh in West Bengal and Bhadrak in Odisha. Addressing the media, Jaitley said the new 155-km railway line will ease congestion on the route. “The third line will help generate the additional optimum capacity to cope with the existing as well as additional traffic,” he said.
According to government estimates, the project would cost Rs 1,866.31 crore and would be completed by 2023-24. It is expected to generate direct employment for around 37.2 lakh man days.
Jaitley also informed that the CCEA has also given approval for the investment sanction for acquisition of M/s LancoTeesta Hydro Power Ltd (LTHPL) and execution of balance work of the Teesta Stage-Vl HE Project by NHPC Ltd in Sikkim. “CCEA gives approval for investment approval for 2×660 MW Buxar Thermal Power Project (Buxar TPP) in District Buxar of Bihar,” he added.
The committee also approved the investment approval for 2x660MW Khurja Super Thermal Power Plant (STPP) in Bulandshahar of Uttar Pradesh and Amelia Coal Mine in Singraulli, Madhya Pradesh.
Along with approving Delhi Metro’s phase IV project, the Union Cabinet also approved the proposal of Airports Authority of India for surrendering encroached AAI’s land measuring 106.76 acres at Bhopal Airport.
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