NEW DELHI, The Union Cabinet on Wednesday granted approval to an expenditure of over Rs 3,600 crore for setting up of 13 new central universities within the next 36 months.

The new central universities were established under the Central Universities Act, 2009 in Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Orissa, Punjab, Rajasthan and Tamil Nadu.

While one university each is to be set up in 11 of these States, Jammu and Kashmir will get two new central varsities.  “The Cabinet has given its approval for incurring an expenditure of Rs 3,639.32 crore for the 13 central universities for recurring cost and creation of necessary infrastructure for completion of the campuses. The work will be completed within 36 months,” Union Minister Piyush Goyal said at a press conference. “The Cabinet has also given ex-post facto approval for Rs 1,474.65 crore being the amount spent over and above the earlier  Cabinet approval of Rs 3,000 crore for these central universities,” he added. The Minister said the move will increase access to higher education and set exemplary standards for other universities to emulate and will help in minimising the regional imbalances in educational facilities.

Okays Numaligarh Refinery capacity expansion project

THE Government on Wednesday approved a capacity expansion plan for Numaligarh Refinery in 201 metric tonne per annum (MMTPA) to 9 MMTPA at an estimated cost of Rs 22,594 crore. The project is to be completed within a period of 48 months after the approval and receipt of statutory clearances, Union minister Piyush Goyal told reporters while briefing reporters here. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, gave its approval to the project for expansion of Numligarh Refinery Assam with capacity to be expanded from 3 MMTPA to 9 MMTPA. The expansion project involves setting up crude oil pipeline from Paradip to Numaligarh and product pipeline from Numaligarh to Siliguri at a cost of Rs 22,594 crore, he said.

Nod to MoU between India, Aus on mines safety

THE Government on Wednesday approved signing of a pact between India and Australia on mines safety.

The approval was given by the Union Cabinet, chaired by Modi. “The Union Cabinet has given its approval for signing a memorandum of understanding (MoU) between Directorate General of Mines Safety (DGMS), Ministry of Labour and Employment, Government of India and Department of Natural Resource Mines and Energy, Queensland Government, Australia through the Safety in Mines, Testing and Research Station (SIMTARS),” according to an official statement.

SIMTARS is known to have exclusive expertise in mines safety management systems.

The pact will help in establishing a partnership between DGMS and SIMTARS for the implementation of a risk-based safety management system, providing training, modernising R&D laboratory of DGMS, organising, conference, seminar and other technical meetings, setting up occupations safety and health academy and a national mines disaster centre. 

The MoU will become operative from the date of signing and remain in effect for three years. Mining accident rates in Australia is the lowest in the world. Australia has pioneered in conceptualising and implementing risk-based safety management plans for the mining sector using the technique of hazard identification and risk assessment.

Rs 6,000 cr capital infusion in Exim Bank approved

THE Government on Wednesday approved a capital infusion of Rs 6,000 crore in state-owned Exim Bank to expand its business. The Union Cabinet, chaired by Prime Minister Narendra Modi, also approved an increase in the bank’s authorised capital from Rs 10,000 crore to Rs 20,000 crore.

Briefing reporters about the decisions, Railway Minister Piyush Goyal said it has been decided to issue recapitalisation bonds by the Government of India to the tune of Rs 6,000 crore for capital infusion in Export-Import Bank of India (Exim Bank).

“The equity will be infused in two tranches of Rs 4,500 crore in 2018-19 and Rs 1,500 crore in 2019-20 respectively,” he said. The recapitalisation bonds will be on the lines of those issued to public sector banks, he said, adding that the infusion of capital into Exim Bank would enable it to augment capital adequacy and support Indian exports with enhanced ability.

Exim Bank is the principal export credit agency in India and the infusion will give an impetus to new initiatives such as supporting Indian textile industries, likely changes in the Concessional Finance Scheme, likelihood of new letters of credit in future in view of the country’s active foreign policy and strategic intent, he added.

Govt clears Rs 4,242 cr IT-filing project

THE Government on Wednesday said IT major Infosys will develop the next-generation Income Tax filing system for Rs 4,241.97 crore which will cut down the processing time for returns to one day from 63 days and expedite refunds. 

The Cabinet, chaired by Prime Minister, gave its ‘approval to expenditure sanction of Rs 4,241.97 crore for Integrated e-filing and Centralised Processing Centre 2.0 Project of the Income Tax Department’, Union minister Piyush Goyal said.

Briefing media about the decision, he said the processing time at present for Income Tax Reurn (ITR) is 63 days and it will come down to one day after implementation of the project. Goyal said the project is expected to be completed in 18 months and will be launched after three months of testing. Infosys, he said, has been selected to implement the project after the bidding process.

Published On : 17-01-2019

Source : The Hita Vada

e-max.it: your social media marketing partner