Union Government approves 7 lakh crore highway projects to develop 83000 km roads
The Union Government on 24 October 2017 approved mega highway projects to build 83677 km of highways over the next five years at a cost of Rs 7 lakh crore.
These highway projects include the ambitious Bharatmala project which is the second-largest highway project after National Highways Development Project (NHDP) that saw development of about 50000 km of roads.
Bharatmala project is an umbrella programme for roads under which 34800 km of highways will be constructed at a cost of Rs 5.35 lakh crore.
In addition to Bharatmala, National Highways Authority of India (NHAI) will, in parallel, implement the balance works of 48877 km roads with an outlay of Rs 1.57 lakh crore.
Union Government approves Rs 2.11 lakh crore State Bank Recapitalization Plan
The Union Government on 24 October 2017 approved a Rs 2.11 lakh crore Recapitalization Plan for Public Sector Banks (PSBs) struggling with mounting bad loans. The recapitalisation seeks to clean up banks' books and enable them to lend more.
The government will soon infuse Rs 1.35 lakh crore worth recapitalisation bonds to support public sector banks, which account for 70 per cent of Non-Performing Assets (NPAs) in the banking system and will provide Rs 76000 crore through budgetary support and market raising.
The recapitalisation of state-owned banks will be followed by a series of reforms to make them more accountable.
Thumri queen Girija Devi passes away
Renowned vocalist and Thumri queen Girija Devi passed away on 24 October 2017 following a cardiac arrest. She was 88 and is survived by her daughter.
Fondly called Appa-ji, Girija Devi was a legendary singer of the Benaras gharana. She was a prominent performer of purabi ang thumri style of Banaras gharana.
She was awarded with the Padma Shri in 1972, Padma Bhushan in 1989 and the Padma Vibhushan in 2016.