Jagran Josh Logo

Top Cabinet Approvals: 4 October 2018

Oct 4, 2018 12:21 IST
Top Cabinet Approvals: 4 October 2018

Cabinet approves redevelopment of Railway Stations by IRSDC as Nodal Agency

• The Union Cabinet approved the redevelopment of Railway Stations by Indian Railway Stations Development Corporation Limited (IRSDC) as Nodal Agency and main Project Development Agency.
• The redevelopment will be undertaken through simplified procedures adapting various business model and for longer lease tenure of up to 99 years.
• This program will help provide state-of-the-art amenities for passengers, generate additional revenues and will be overall at least cost neutral to Ministry of Railways (MoR) over a basket of stations.
• Furthermore, redevelopment of railway stations across the country will have a multiplier effect in the economy with increased job creation and improved economic growth.
• IRSDC being the Nodal agency will prepare the overall strategic plan and business plans for individual or a group of stations ensuring cost neutrality of this program.
• Upon approval of business plans by MoR, IRSDC will take up the work of station redevelopment.
• Railway/RLDA/IRSDC will be planning and development authority for Railway land in consultation with urban local bodies, DDA or other UTs, to transfer land on free hold basis to Railways.
• This would enable Ministry of Railways to accelerate the redevelopment of major stations across the country on an overall cost neutral basis.
• Railway passengers and Industry shall be benefited at large.

Cabinet approves MoU between India and Russia on cooperation in road transport

• The Union Cabinet approved the Memorandum of Understanding (MoU) between India and Russia on bilateral cooperation in the road transport and road industry.
• The MoU will be signed during the upcoming visit of Russian President to India.
• Both the countries will benefit by mutual cooperation in the field of Road Transport and Road Industry.
• Increased co-operation, exchange and collaboration with Russia will contribute to establish a long-term and effective bilateral relationship of communication and cooperation in road transportation and road industry and Intelligent Transport System (ITS).
• This will also help in planning and administration of road infrastructure and road network management, transport policy, technologies and standards for the construction and operation of highways in the country.
• It will further go a long way in strengthening ties and bilateral relations between India and Russia.

Cabinet approves MoU between India and Russia on cooperation in Micro, Small and Medium Enterprises

• The Union Cabinet approved signing of a MoU between National Small Industries Corporation Ltd (NSIC) - a Public Sector Undertaking of the Union Ministry of Micro, Small & Medium Enterprises (MSME) and JSC-Russian Small & Medium Business Corporation (RSMB Corporation), Russia.
• The MoU will be signed during the upcoming visit of Russian President to India.
• The objective of the MoU is to promote cooperation between the Small & Medium Enterprises (SMEs) of the two countries.
• It would provide a structured framework and enabling environment to the MSME sector of the two countries to understand each other's strengths, markets, technologies, policies etc.
• It aims to enhance enterprise to enterprise cooperation and help initiate sustainable business alliances in terms of technology transfers, joint ventures and business partnerships in MSME sector.
• This cooperation is expected to open doors of new opportunities for Indian MSME sector by way of new markets, joint ventures, sharing of best practices and technology collaborations etc.
• NSIC, under the Ministry of MSME has a considerable experience in carrying out such cooperation and is, therefore, appropriate organisation to implement the activities of this MoU.

Cabinet approves Second Protocol amending CECA between India and Singapore

• The Union Cabinet gave its ex-post facto approval to the Second Protocol amending the Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore.
• The CECA was signed on August 24, 2018.
• The signing of the Second Protocol will enhance bilateral trade and will deepen the Economic Cooperation between India and Singapore.
• It will also improve utilisation of CECA.

Cabinet approves Indore Metro Rail Project comprising Ring Line

• The Union Cabinet approved the implementation of Indore Metro Rail Project comprising Ring Line of length 31.55 Km from Bengali Square - Vijay Nagar - Bhawarsala - Airport - Patasia - Bengali Square.
• The line will connect major public nodes and city cluster areas of Indore.
• The numbers of stations on the Ring Line are 30.
• The project will provide continuous availability of affordable, reliable, safe, secure and seamless transport system in the urban agglomeration of the city.
• It will reduce the accidents, pollution, travel time, energy consumption, anti-social incidents as well as regulate urban expansion and land use for sustainable development.
• The estimated cost of the project is Rs 7500.80 crore and the project will be completed in four years.
• The corridors will have Multimodal Integration with Railway Station & BRTS Stations and feeder network of Bus, Intermediate Public Transport (IPT) and Non Motorised Transport (NMT).  
• The Project will have non-fare box revenue form rental and advertisement as well as Value Capture Financing (VCF) through mechanism of Transit Oriented Development (TOD) and Transfer of Development Rights (TDR).

 Cabinet approves Bhopal Metro Rail Project comprising two corridors

• The Union Cabinet approved implementation of Bhopal Metro Rail Project comprising two corridors of total length 27.87 Km - Karond Circle to AIIMS (14.99 Km) and Bhadbhada Square to Ratnagiri Tiraha (12.88 Km).
• The length of Karond to AIIMS corridor is 14.99 km, which is mostly elevated and partly underground (at Bhopal Railway Station and Bus Station) and comprises of 16 Stations (14-El.evated and 2-Underground).
• The length of Bhadbhada to Ratnagiri Tiraha corridor is 12.88 km comprising of 14 stations all elevated.
• The project will provide continuous availability of affordable, reliable, safe, secure and seamless transport system in the urban agglomeration of the city.
• The estimated cost of the project is Rs 6941.40 crore and the project will be completed in four years.
• The population of 23 lakh of Bhopal agglomeration area is expected to be benefitted by Bhopal Metro Rail Project directly and indirectly.
• The corridors will be having Multimodal Integration with Railway Stations & BRTS Stations and will have feeder network of Bus, Intermediate Public Transport (IPT) and Non Motorised Transport (NMT).

Cabinet approves establishment of National Institute of Mental Health Rehabilitation

• The Union Cabinet approved the establishment of National Institute of Mental Health Rehabilitation (NIMHR) in Sehore District (Bhopal-Sehore highway), in partial modification of the earlier decision taken on May 16, 2018, instead of Bhopal in Madhya Pradesh.
• NIMHR will be the first of its kind in the country in the area of mental health rehabilitation.
• It will serve as an institution of excellence for capacity building in human resource and research in the area of mental health rehabilitation.
• It will work as a recommending body suggesting models/protocols for effective rehabilitation of persons with mental illness.

CCEA approves budgetary support to Nepa Limited for the Revival and Mill Development Plan

• The Cabinet Committee on Economic Affairs gave its approval for providing a financial package of Rs 469.41 crore for the Revival and Mill Development Plan (RMDP) of Nepa Limited, a public sector newsprint company located in Nepanagar, Madhya Pradesh.  
• It will infuse Rs 277 crore as equity in the company for the completion of RMDP which shall enhance production capacity to 100000 MT per annum from the present capacity of 83000 MT per annum.
• It will diversify production, improve quality of products and also help resume production at Nepa Ltd.  
• The RMDP is expected to be completed within a year.
• A loan of Rs 101.58 crore has also been approved for the payment of salary, wages, etc.  This will mitigate the hardship being faced by the Nepa Ltd employees.
• A sum of Rs 90.83 crore was approved for the voluntary retirement scheme of 400 employees.
• The cabinet also approved strategic disinvestment of NEPA Ltd on completion of the RMDP at an appropriate time.
• The completion of the RMDP will help Nepa Ltd to command a better presence in the market besides supporting employment in the tribal belt of Madhya Pradesh.

 

Video: Check out the latest current affairs of this week

 

Is this article important for exams ? Yes

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

Newsletter Signup
Follow us on
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK