Key Cabinet decisions taken on May 16

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi on Wednesday took several key decisions.

Here are the key decisions:

Delhi Metro corridor from Noida City Centre to Sector-62

Cabinet has approved extension of Delhi Metro corridor from Noida City Centre to Sector-62, Noida Uttar Pradesh covering a length of 6.675 k.m. at the total completion cost of Rs 1,967 crores. Government's liability will be Rs  340.60 crore on account of Grant and Subordinate Debt.

Project will be implemented by Delhi Metro Rail Corporation Limited (DMRC), the existing Special Purpose Vehicle (SPV) of the Government of India and Government of National Capital Territory of Delhi.

Development of Trunk Infrastructure Components for Integrated Multi Modal Logistics Hub

The has given its approval to the following proposal of the Department of Industrial Policy and Promotion:-

i.     Development of Freight Village, an Integrated Multi Modal Logistics Hub (IMLH), Nangal Chaudhary, Haryana on 886.78 acres of land to be implemented by the project Special Purpose Vehicle (SPV) in two phases.

ii.   Financial sanction of Rs. 1029.49 crore for development of Phase I and in principle approval for development of Phase II of the project. Expenditure on Phase I comprises cost of entire land at Rs. 266 crore including cost of the land to be used for development of Phase II.

iii.  Investment of Rs. 763.49 crore by National Industrial Corridor Development and Implementation Trust (NICDIT) which includes of Rs. 266 crore as equity and Rs. 497.49 crore as debt in the SPV; and

iv.  Bidding for trunk infrastructure development by SPV on EPC basis;

Enhancement of budget for implementation of Network for Spectrum for Defence Services

The CCEA has given its approval for enhancement of budget by Rs 11,330 crore for Network For Spectrum (NFS) project for laying of alternate communication network for Defence Services for release of spectrum over and above Rs.13,334 crore already approved by Cabinet Committee on Infrastructure in July, 2012.

The project, being implemented by Bharat Sanchar Nigam Limited (BSNL),  will be completed in a period of 24 months.

The NFS project will boost the communication capabilities of the Defence Forces in a major way leading to enhanced national operational preparedness.  The project will also have forward linkages to other related industries such as telecom equipment manufacturing and other telecommunication related services.

Strengthening mechanism for resolution of commercial disputes of Central Public Sector Enterprises

The Union Cabinet Chaired by Prime Minister Shri Narendra Modi has has approved the strengthening of the mechanism for resolution of commercial disputes of Central Public Sector Enterprises (CPSEs) inter se and also between CPSEs and other Government Departments/Organizations. The Cabinet decision is based on recommendations of the Committee of Secretaries (CoS). The decision will put in place an institutionalized mechanism within the Government for speedy resolution of commercial disputes of CPSEs without the matter being referred to the Courts of law.