The Maharashtra cabinet Tuesday granted its approval for setting up of a special purpose vehicle (SPV) for the proposed Purandar international airport in Pune.
The Maharashtra Airport Development Corporation (MADC) has been appointed as the nodal agency for implementing the project, while the City and Industrial Development Corporation of Maharashtra (CIDCO) will be a major stakeholder in the SPV.
The CIDCO will hold 51 per cent stake in the SPV, while MADC's stake will be around 19 per cent. The remaining 30 per cent will be divided between the Maharashtra Industrial Development Corporation (MIDC) and Pune Metropolitan Region Development Authority (PMRDA).
Pune district collector has been given the responsibility of acquiring land for the project, giving compensation and rehabilitating the project affected people.
The cabinet also gave its nod to implement the Seventh Pay Commission recommendations to full-time teachers and equivalent staff of the government, aided colleges, deemed universities under the University Grants Commission (UGC).
The decision will benefit over 26,000 teachers across. It will add a burden of Rs 2,100 crore on the state exchequer, a statement issued here said.
The Seventh Pay Commission payscale will be given with a retrospective effect starting from January 2016 along with the arrears, it added.
The cabinet approved Rs 2,100 crore from the state treasury, while Rs 1,300 crore will be the Centre's share.
The cabinet also gave a go-ahead to give a pay hike to teachers and to those who hold posts equivalent to that of teachers, from unaided universities, law universities and affiliated colleges, government colleges, science institute and grant-in-aid universities.
The cabinet also approved the implementation of the UGC recommendations over revised educational qualification and eligibility.
The cabinet also gave its nod to the proposal to rename Solapur University as 'Punyashlok Ahilyadevi Holkar Solapur Vidyapeeth', in an apparent bid to woo the Dhangar community ahead of the polls.
Since the last several years, the community has been demanding that the university be named after Ahilyadevi Holkar.
The ordinance of the decision will be issued soon, that will be applicable for six months.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)