The Union Cabinet on Friday approved the auction of Phase Three of FM radio in the country and cleared the migration of private FM Radio licenses from Phase-II to Phase-Ill in 69 cities for 135 channels.
According to reports, the auction is expected to add revenue of over Rs 550 crore to the national exchequer. At present, there are 243 private FM channels operating in 86 cities across the country.
The Cabinet also gave its approval for the amendment of the Motor Spirit and High Speed Diesel control order, allowing private biodiesel manufacturers, their authorised dealers and joint ventures of oil marketing companies to supply bio-diesel to consumers.
The Cabinet further agreed to amend the national policy on bio-fuels for facilitating consumers of diesel in procuring bio-diesel directly from private bio-diesel manufacturers.