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Stressed power projects to Delhi Metro: Key cabinet decisions today

The Union Cabinet Thursday approved state-owned NHPC taking over debt-laden Lanco's 500 MW Teesta hydro-electric power project in Sikkim

BS Web Team | Agencies  |  New Delhi 

Arun Jaitley, finance Minister
Finance Minster Arun Jaitley

Prime Minister Narendra Modi-led cabinet took several key decisions on a range of issues on Thursday. Finance Minister announced the decisions in a press briefing.

Here are the key decisions made by the Cabinet:

GoM's recommendations on stressed power plants approved

The Thursday approved recommendations of a group of ministers (GoM) relating to including grant of coal linkage for short-term power purchase agreements (PPAs).

The recommendations approved include grant of coal linkage for short-term PPAs, allowing existing coal linkage to be used in case of termination of PPAs due to payment default by distribution companies and procurement of bulk power by a modal agency against pre-declared linkages. Read more

Govt to invest Rs 26,000 crore in 2 thermal, 1 hydro power plants

The government on Thursday approved an investment of Rs 25,816 crore for two thermal power projects and a hydro electric plant.

The Cabinet Committee on Economic Affairs (CCEA) cleared a proposal for investment of Rs 10,439.09 crore for 1320 MW Buxar Thermal Power Project in Bihar. Read more

NHPC's acquisition of Lanco's Teesta hydro-electric project

The Thursday approved state-owned taking over debt-laden Lanco's 500 MW Teesta hydro-electric power project in Sikkim.

Finance Minister said has also been allowed to spend Rs 574.04 crore to complete balance work at the project. Read more

phase IV

Three out of six corridors of the Delhi Metro's proposed Phase IV were approved. These corridors are - Mukundpur-Maujpur, RK Ashram-Janakpuri West and Aero City-Tughlakabad.

There will be 17 underground and 29 elevated stations in the three corridors whose total length will be 61.679 km. Read more

Rs 2,790 cr interest subvention on loans to sugar mills gets approval

The Cabinet approved Rs 2,790 crore interest subvention for extending loans by banks to sugar mills.

This is in addition to Rs 1,332 crore already approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2018. Read more

Rs 4,500 crore plan to revive 'un-served, under-served' airports

In a bid to boost regional air connectivity, the Cabinet Thursday approved a proposal to "revive and develop" a number of "un-served and under-served airports" across the country at a cost of Rs 4,500 crore.

The government said the move will further boost economic development in these cities or towns as well as surrounding areas in terms of job creation and related infrastructure development. Read more

Ordinance on reservation roster for faculty positions in varsities cleared

The cleared an ordinance on reservation mechanism for appointment of faculties in universities.

Following a series of protests, Human Resource Development Minister Prakash Javadekar had earlier said the Centre was committed to restoring the reservation roster in educational institutions. Read more

Busy Bengal-Odisha section gets third railway line

The Cabinet has approved the construction of a third railway line between Narayangarh in West Bengal and Bhadrak in Odisha.

The new railway line will be 155-km long. Read more

Cabinet allows Alternative Mechanism to decide on price, timing of CPSE strategic sale

To fast-track strategic sale of CPSEs, the Cabinet Thursday allowed Alternative Mechanism to decide on the timing, price and quantum of shares of a state-run company to be put on the block for outright sale. Read more

First Published: Thu, March 07 2019. 14:16 IST