Cabinet approves revised cost of Kaladan project with Myanmar

The Kaladan Multi-Modal Transit Transport Project was jointly identified by India and Myanmar

The Cabinet on Wednesday gave its approval to the revised cost estimate of Rs 2,904 crore for the Kaladan Multi Modal Transit Transport project in Mynamar. The project was jointly initiated by India and Myanmar to create a multi-modal platform for cargo shipments from the eastern ports to Myanmar and to the North-eastern parts of the country through Myanmar.

The Kaladan project, connecting Sittwe Port in Myanmar to the India-Myanmar border, is expected to open up sea routes and promote economic development in the North-eastern states, and also add value to the economic, commercial and strategic ties between India and Myanmar, Telecom Minister Ravi Shankar Prasad told mediapersons.

Pay Revision in CIL

The Cabinet also cleared the 2007 pay revision, implemented by Coal India Ltd (CIL) in its loss-making subsidiaries, and approved of the payment of performance linked salaries to executives and non-unionised supervisors of CIL.

Fertiliser

The Cabinet Committee on Economic Affairs (CCEA) gave its nod to Rs 7,000-crore loan that was taken by the government from public sector banks to clear outstanding urea subsidy bill during the last financial year.
OTHER DECISIONS

• An agreement between India and Mozambique for technical bilateral cooperation and investment promotion in the area of new and renewable energy
• An agreement for cooperation with Taipei in the field of micro, small and medium enterprises (MSMEs)
• A Rs 3,090 crore proposal to construct 13,072 houses and 113 barracks of various types at 68 locations of the Central Industrial Security Force (CISF), Central Reserve Police Force (CRPF) and Indo-Tibetan Border Police (ITBP) till 2016-17
• The Cabinet approved the upgradation of the National Institute of Fashion Technology (NIFT) campuses for implementation of reservation for students belonging to Other Backward Classes (OBC). It also extended the timeline for utilisation of available balance fund of Rs 90.13 crore by two years up to March, 2017