On December 15, 2017, Union Cabinet chaired by Prime Minister Narendra Modi approved following agreements and initiatives:
Cabinet approves continuation of NLCPR scheme for North East till March 2020
Union Cabinet has approved the continuation of the current Non Lapsable Central Pool of Resources (NLCPR) scheme for North Eastern India.
- NLCPR is a Central Government scheme aimed at speedy development of India’s North Eastern Region by providing budgetary resource for executing social and physical infrastructure projects.
- The latest continuation has been approved till March, 2020 so that the ongoing projects can be completed.
- NLCPR is being administered with financial outlay of Rs.5300 crore.
- Union Cabinet has also approved the introduction of ‘North East Special Infrastructure Development Scheme’ (NESIDS) from 2017-18.
- NESIDS will be a Central Sector Scheme with 100% funding from the Central Government. It will be initiated to plug gaps in infrastructure development in specified sectors till March, 2020.
Cabinet approves capital investment subsidy to industrial units located in North Eastern Region
Cabinet Committee on Economic Affairs has approved Capital Investment Subsidy of Rs.264.67 crore to four industrial units located in North Eastern Region (NER) including Sikkim.
- This subsidy has been approved under Central Capital Investment Subsidy Scheme (CCISS), 2007 of North East Industrial Investment and Promotion Policy (NEIIPP), 2007.
- Objective of this scheme is to promote industrialization in North Eastern Region of India.
- In order to facilitate expeditious settlement of claims, Union Minister of Commerce & Industry has been authorised to approve capital investment subsidy claims up to Rs.500 crore.
Cabinet approves special package for employment generation in leather and footwear sector
Special package for employment generation in leather and footwear sector involves implementation of ‘Indian Footwear, Leather & Accessories Development Programme’.
- 2600 Crore will be allocated for this purpose over three financial years from 2017-18 to 2019-20.
- The special package will result in increase in production, development of infrastructure for the leather sector, facilitate additional investments and will address environment concerns specific to the leather sector.
- Besides, 24 lakhs new employment opportunities will be generated in leather and footwear sector over next 3 years.
Cabinet approves Agreement with UNESCO on establishment of International Training Centre for Operational Oceanography in Hyderabad
Purpose of this agreement with United Nations Educational, Scientific and Cultural Organization (UNESCO) is to establish a training centre which will focus on capacity building for Indian Ocean Rim (IOR) countries, African countries bordering the Indian and Atlantic Oceans and other small island countries under the framework of UNESCO.
- Operational oceanography involves activity of conducting systematic oceanographic studies aimed at providing relevant and actionable information services to various entities including disaster management agencies, shipping companies, ports, fishermen, coastal states, navy, coast guard, and offshore industries.
Cabinet approves continuation of Centrally Sponsored Scheme of National AYUSH
Union Cabinet has approved the continuation of Centrally Sponsored Scheme of National Ayush Mission (NAM).
About National Ayush Mission (NAM):
- The continuation has been approved for three year period from April 1, 2017 to March 31, 2020 with an outlay of Rs. 2400 crore.
- NAM was launched in September, 2014 with an objective of providing cost effective Ayurveda, Yoga, Unani, Sidhha & Homeopathy (AYUSH)
- It is being implemented by Union Ministry of AYUSH.
Cabinet approves forming ‘circle office’ to monitor safety in railways
On December 15, 2017, Union Cabinet approved creation of one circle office of Commissioner of Metro Railway Safety (CMRS) to monitor rail safety, which includes inspecting new railway lines and safety of passengers.
- Creation of this office was envisaged in the ‘Metro Railways (Operations and Maintenance) Act, 2002’.
- Estimated expenses for the Circle office will be Rs.750000 per year.
- Commission of Railway Safety, under Union Ministry of Civil Aviation, deals with the matters related to safety of rail traveland train operations. It has to carry out certain statutory functions laid down in the Railway Act, 1989.
Cabinet approves second financial restructuring of Konkan Railway Corporation Ltd.
Cabinet Committee on Economic Affairs has approved the second financial restructuring proposal of Konkan Railway Corporation Limited (KRCL).
- KRCL is a central public sector enterprise (CPSE) under the administrative control of the Union Ministry of Railways.
- This second financial restructuring is to be done by conversion of the Non-cumulative Redeemable Preference Shares (RPS) into Compulsorily Convertible non-cumulative Preference Shares (CCPS).
- Amount of Non-Cumulative RPS that are to be converted into CCPS is Rs. 4079.51 crore.
- This conversion will make KRCL’s net worth positive.
Quick Facts about Konkan Railway:
- Commenced Operations in – 1998
- Headquarters – CBD Belapur, Navi Mumbai, Maharashtra