Cabinet decisions: One time fund infusion to revive highway projects

Also approves Rs 6,806 cr payment by SBI and PNB for fertilizer companies

The government will infuse one time fund to revive languishing national highway projects, stuck up due to alleged corruption in the UPA regime and resource crunch.

The decision, taken by the Cabinet on Wednesday, would be limited to those projects where half of the work has been completed by November, 2014.

There would be a tri-partite agreement between banks, National Highway Authority of India (NHAI) and consigner to this effect, telecom minister Ravi Shankar Prasad told mediapersons here.

Prasad did not give details of the fund.

Other decisions:

i) Approved Rs 6,806 cr payment by SBI and PNB for fertilizer companies for subsidies

ii) Govt approves revised cost of Kaladan Multimodal Transit Transport project in Myanmar

iii) Extends Reservation for OBCs for NIIFT by two more years

iv) Will give performance linked pay to managerial staff of CIL from 2007, including two subsidiaries ECL and BPCL which were loss making earlier.