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The Cabinet Committee on Economic Affairs (CCEA) today approved a proposal authorising a committee headed by the road secretary to clear highway projects worth less than Rs 500 crore. According to a CCEA statement, the Standing Finance Committee chaired by secretary (road transport and highways) will clear all projects less than Rs 500 crore, except those to be cleared by the Ministry of Road Transport and Highways.
At present, projects worth Rs 500 crore or above require the approval of CCEA.
These big projects would now be appraised by a committee chaired by secretary (expenditure) or the Public-Private Partnership Appraisal Committee (PPPAC), while the approval will be given by CCEA in accordance with extant guidelines and instructions.
World Cup bid
The Cabinet today also approved India's ambitious bid to host the Under-17 Football World Cup in 2017. The endeavour is being backed by FIFA Vice-President Jerome Valcke. India's first bid was rejected in January this year, due to insufficient assurances from the government. However, with the government today giving the green signal in providing guarantees that would meet FIFA's basic requirements, it has paved the way for a strong bid, said officials.
While the expenses of hosting the event will be borne by FIFA and All India Football Federation, the government has assured additional financial assistance.
While the expenditure for upgrade of stadia (Rs 95 crore) will be provided as additional central assistance to the state governments, a sum of Rs 25 crore is kept as a contingency to ensure smooth conduct of the tournament.
