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Showing posts with label CCEA. Show all posts
Showing posts with label CCEA. Show all posts
0 comments Posted by life rocks at 5:35 AM


The government has approved the disinvestment of 10.82 per cent of its stake in Steel Authority of India (SAIL).

The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Manmohan Singh, that met last evening, cleared the SAIL public offer.

Our Correspondent reports, the share sale process, proposed to be conducted through auction route or offer for sale, is expected to fetch over 4,000 crore rupees to the government.

The government currently holds 85.82 per cent stake in SAIL. After the disinvestment, the government of India's shareholding in SAIL would come down to 75 per cent. 

The paid up equity capital of the company as on 31st March this year, stood at 4130.53 crore rupees.

 

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0 comments Posted by life rocks at 6:21 AM


The Union Cabinet has approved the proposal for extending the scheme of interest subversion of one percent on housing loans up to 15 lakh rupees for the year 2012-13. The cost of the house should not be exceed 25 lakh rupees. Briefing the decision of Cabinet meeting to media persons in New Delhi today, Home Minister P.Chidambaram said that a budgetary provision of four hundred crore rupees has been made for financial year 2012-13 for implementing the scheme. The extended scheme will benefit all housing loans availed in financial year 2012-13.
In a meeting chaired by Prime Minister Dr. Manmohan Singh, Cabinet also gave its nod to the proposal to offer financial support for the development of  Electronics Manufacturing Clusters, EMCs . The proposed EMCs scheme will support setting up of Greenfield and Brown field EMCs and will help in developing of entrepreneurial ecosystem.
Mr. Chidambaram said that the construction of Additional Office Complex for the Supreme Court of India has also been sanctioned by the Cabinet. According to the approval Additional Office Complex will be constructed on the adjoining Pragati Maidan land at an estimated cost of 884 crore 30 lakh rupees. It will facilitate planned and segregated movement of various stake holders and users. Non- judiciary and litigants waiting hall and lawyers offices will be constructed in the Additional Office Complex.The Cabinet Committee on Economic Affairs, CCEA, has approved the proposal of the Department of Fertilizers for reimbursement of freights(माल भाड़ा) for distribution of Phosphatic and Potassic fertilizers under the Nutrient Based Subsidy Policy. This will ensure equitable prices of these fertilizers across all regions.
The CCEA also gave its nod to the proposal of Tamil Nadu government to set up a Petroleum Chemicals and Petrochemicals Investment region, PCPIR, in the Cuddalore and Nagapattinam districts of the State. Such PCPIRs have already been approved for Andhra Pradesh, Gujarat, West Bengal and Odisha. In Tamil Nadu, a total investment of more than 92 thousand crore rupees is expected in the PCPIR.

 

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