The Union Cabinet has taken five key decision in different areas. It includes,
- Smart plan for rural areas
- Drought Relief
- EXIM Bank – Consessional Finance
- Doubling of Hotgi-Kudgi-Gadag route (284 Km) of railways
- Negotiable Instruments (Amendment) Ordinance, 2015
Smart plan for rural areas
The Cabinet approved the Shyama Prasad Mukherji Rurban Mission (SPMRM) with an outlay of Rs 5142.08 crore. The Rurban Mission will develop a cluster of Smart Villages.
The SPMRM mission aims to create 300 Rurban growth clusters over the next 3 years, across the country. These clusters will see optimum development such as skill development training linked to economic activities, agro processing/agri services/storage and warehousing, digital literacy, sanitation, provision of piped water supply, solid and liquid waste management, street lights, better schools, inter-village road connectivity and gas connections.
Drought relief
The Cabinet gave its nod to provide an additional 50 days of unskilled manual work in the financial year over and above the 100 days assured to job card holders in areas where drought or natural calamities have been notified. This will enable states to provide additional wage employment to the rural poor in drought affected areas.
EXIM Bank – Concessional Financial Support
The Cabinet approved a scheme to enable EXIM Bank to offer concessional finance to support Indian companies bidding for strategically important infrastructure projects abroad. This will help Indian companies to bid for large projects abroad. The repayment of the loan would be guaranteed by the foreign Government.
Doubling of Hotgi-Kudgi-Gadag route (284 Km) of railways
The CCEA approved doubling of the Hotgi-Kudgi-Gadag railway line at an anticipated cost of Rs 1618 crore and completion cost of Rs 2058 crore.
Negotiable Instruments (Amendment) Ordinance, 2015
Cabinet gave its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015, which would help trade and commerce in general. It will also allow the lending institution, including banks, to continue to extend financing to the economy, without the apprehension of loan default on account of bouncing of a cheque.
