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Posted by life rocks at 6:55 AM


The cabinet has approved turnaround and restructuring plans of Air India.. The cabinet also approved a bill that seeks to regulate government purchases of above 50 lakh rupees through a transparent bidding process. The Cabinet meeting, chaired by Prime Minister Dr Manmohan Singh, approved the public procurement bill that has a provision to debar bidders found engaged in corrupt practices. Speaking to reporters, HRD minister Kapil Sibal said that there is no overarching legislation governing public procurement by the central government and central public sector enterprises.

The bill provides for a jail term ranging from six months to five years for public servants found guilty of demanding and accepting bribes from bidders of government contracts. The GoM headed by Finance Minister Pranab Mukherjee had sent the bill for the approval of the Union Cabinet.

The cabinet also gave its node to state owned Neyveli Lignite Corporation's proposed joint venture to set up a ten thousand crore rupees thermal power project in Uttar Pradesh. The UP government has already given in principle approval to allocate 2500 acres of land and 80 cusecs(gallon)(gallon = 3.7 liter)of water for the project.

The Union Cabinet also approved the extension of funding support for implementing the Swavalamban scheme under the New Pension System (NPS)from present three years to five years for all subscribersHRD minister Kapil Sibal said the exit norms of the scheme have been relaxed to enable subscribers under Swavalamban to exit at the age of 50 years instead of 60 years, or a minimum tenure of 20 years which ever is later.

Mr Sibal said the cabinet has provided an additional funding support of over 2065 crore rupees to Swavalamban scheme upto 2016-17 towards government's co-contribution to the subscribers of the scheme. This, he said, will benefit 70 lakh workers of the unorganised sector till 2016-17. Our correspondent reports, the Swavalamban scheme is a co-contributory pension scheme whereby the central government would contribute 1000 rupees per annum in each NPS account opened having a saving of 1000 rupees to 12,000 rupees per annum.

In another decision, the cabinet approved the introduction of a Bill in the budget session of Parliament to amend the registration of births and deaths Act, 1969 to include registration of marriages. Our correspondent reports, the proposed bills will be beneficial for the women from unnecessary harassment in matrimonial and maintenance cases.

 

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