The Cabinet Committee on security on 18 October 2012 approved proposals worth over 8000 crore rupees for procuring around 10000 Invar missiles from Russia for the Army's T-90 tanks and over 200 air-launched versions of the BrahMos supersonic cruise missiles for the Indian Air Force. Also, the Union Cabinet approved the waiver of the outstanding loan along with interest for the 370 tsunami affected fishermen and to reimburse the same to concerned banks.
The Union Cabinet also approved setting up of a National Automotive Board, NAB a body which would act as a facilitator between the government and the industry and promote Research and Development activities in the sector.
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