• Nod for Rs. 4,300 crore worth of highway projects

    The Government on Wednesday approved two highway projects worth around Rs.4,300 crore, among a slew of other decisions.

    The Cabinet Committee on Economic Affairs gave a nod to the four-laning of the Lucknow-Sultanpur section on National Highway-56 in Uttar Pradesh at an estimated cost of Rs.2844.72 crore. The two-laning, with the formation of four lanes, of the Shimla Bypass (Kaithlighat to Shimla section) on National Highway-22 in Himachal Pradesh was the second project which was approved, at a cost of Rs.1583.18 crore.

    The Cabinet also approved a proposal to create flexibility in the use of domestic coal. The move is expected to reduce the cost of power generation by 40-50 paise per unit, which will lead to savings of Rs 25,000 per year in around 4-5 years. The adoption of the United Nations Fundamental Principles of Official Statistics was also approved. This adoption is expected to bring “professional independence, impartiality, accountability and transparency in methods of collection, compilation and dissemination of official statistics,” according to the Government.

    A Memorandum of Understanding signed between the Reserve Bank of India and the Central Bank of the United Arab Emirates on cooperation concerning currency swap agreements was approved.The Cabinet approved the proposal to move, in Parliament, the adoption of the recommendations of the Railway Convention Committee (2014) – dividend of five per cent and four per cent for the years 2014-15 and 2015-16respectively on the capital invested in Railways. Joe Kocur Authentic Jersey

    Share This