Economic Affairs Committee approves India's largest hydro-electric project

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared decks for the country’s largest hydro-electric project, 2880 Mw Dibang Multipurpose Project (MPP), in Arunachal Pradesh. In addition, various railways projects worth over Rs 6,000 crore – including doubling, tripling and coming up of new lines — were given nod.  The CCEA approved the expenditure on pre-investment activities and various clearances for Dibang Multipurpose Project (MPP) in Arunachal Pradesh for Rs 1,600 crore. The estimated cost of the project is Rs 28,080.35 crore.

 

The Cabinet has also given its approval to construct a third railway line between Prayagraj-Mughalsarai (now Pt DeenDayal Upadhyaya Jn) covering 150 km with an estimated cost of Rs 2,649.44 crore. The project is expected to be completed by 2023-24. Railways minister Piyush Goyal said the move will help reduce the capacity constraints on this route, where the current capacity utilisation is 159 per cent.

Amendment to Companies Act

 

The Cabinet cleared a Bill for amendments to Companies Act to replace ordinance promulgated in this regard in February.  The Companies (Amendment) Bill, 2019 will re-categorise 16 minor offences as purely civil defaults that will de-clog special courts.