Union Cupboard hikes MSPs for rabi crops, approves BSNL-MTNL merger, regularises unauthorised Delhi colonies: 6 key choices taken right now
The Union Cupboard headed by Prime Minister Narendra Modi on Wednesday took main choices aimed toward reviving the financial system. The foremost choices embrace a hike in minimal help costs of rabi crops, merger of ailing telecom PSUs BSNL and MTNL, opening of gas retailing to non-oil firms and regularisation of Delhi colonies.
MSPs for rabi crops hiked
The federal government on Wednesday hiked the minimum support price for wheat by Rs 85 to Rs 1,925 a quintal and for pulses by as much as Rs 325 per quintal.
A call on this regard was taken at a gathering of the Cupboard Committee on Financial Affairs (CCEA), headed by Prime Minister Narendra Modi.
The MSP is the speed at which the federal government buys grains from farmers. “In a move to increase farmers’ income, the Cabinet has increased the MSP of rabi (winter-sown) crops for the current year,” Info and Broadcasting Minister Prakash Javadekar informed reporters after the assembly.
The CCEA has accepted Rs 85 per quintal hike in wheat MSP to Rs 1,925 per quintal for the 2019-20 rabi crop, up from Rs 1,840 per quintal final 12 months. Barley MSP has additionally been elevated by Rs 85 to Rs 1,525 per quintal from Rs 1,440 per quintal final 12 months.
To encourage cultivation of pulses, the help worth of masoor has been elevated by Rs 325 to Rs 4,800 per quintal from Rs 4,475 per quintal final 12 months. Equally, the MSP for gram has been hiked by Rs 255 to Rs 4,875 per quintal for this 12 months from Rs 4,620 per quintal final 12 months.
Amongst oilseeds, rapeseed/mustard MSP has been elevated by Rs 225 to Rs 4,425 per quintal for 2019-20 rabi crop from Rs 4,200 per quintal throughout 2018-19. The minimal help worth for safflower has been hiked by Rs 270 to Rs 5,215 per quintal from Rs 4,945 per quintal final 12 months.
The MSP for rabi crops introduced for this 12 months is in keeping with the advice of the federal government’s farm worth advisory physique CACP. Wheat is the primary rabi crop, sowing of which is able to start subsequent month. The crop can be marketed from subsequent April onwards.
BSNL, MTNL to be merged
The government also decided to merge loss-making telecom companies MTNL and BSNL as a part of a revival package deal that features elevating sovereign bonds, monetising property and voluntary retirement scheme (VRS) for workers.
Briefing reporters on choices taken by the Cupboard headed by Prime Minister Narendra Modi, Telecom Minister Ravi Shankar Prasad mentioned the federal government will put in Rs 29,937 crore for revival of the 2 state-owned telecom firms.
The revival package deal contains elevating of Rs 15,000 crore sovereign bonds and monetising Rs 38,000 crore of property in subsequent 4 years.
Additionally, voluntary retirement can be provided to staff to chop price, he mentioned.
He mentioned BSNL and MTNL can be merged. Pending this, MTNL will act as a subsidiary of BSNL.
Govt opens up gas retailing to non-oil firms
The federal government on Wednesday opened up fuel retailing, permitting non-oil firms to arrange petrol pumps to extend competitors.
Briefing reporters concerning the choices taken by the Cupboard, I&B Minister Prakash Javadekar mentioned the opening up the gas retailing will enhance funding and competitors.
At current, to acquire a gas retailing licence in India, an organization wants to speculate Rs 2,000 crore in both hydrocarbon exploration and manufacturing, refining, pipelines or liquefied pure gasoline (LNG) terminals.
“The Cabinet Committee on Economic Affairs (CCEA) has approved review of guidelines for giving authorisation for marketing of transportation fuel,” he mentioned.
Firms with Rs 250 crore turnover can enter gas retailing, topic to situation that 5 per cent of the shops can be in rural areas.
State-owned oil advertising and marketing firms – Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) – at present personal most of 65,000 petrol pumps within the nation.
Reliance Industries, Nayara Vitality – previously Essar Oil and Royal Dutch Shell are the non-public gamers out there however with restricted presence. Reliance, which operates the world’s largest oil refining complicated, has lower than 1,400 shops.
Govt to grant possession rights to individuals in unauthorised colonies in Delhi
In a transfer that may profit 40 lakh individuals, the Union Cupboard on Wednesday accepted a proposal to grant possession rights to individuals dwelling in unauthorised colonies in Delhi, Union Minister Prakash Javadekar mentioned.
The proposal relies on the suggestions of a committee, he mentioned. Housing and City Affairs Minister Hardeep Singh Puri mentioned the Centre would additionally carry a invoice within the Winter Session of Parliament to offer aid to the residents of the unauthorised colonies within the nationwide capital.
The transfer comes forward of the Meeting polls within the nationwide capital, scheduled for early subsequent 12 months. The choice “is applicable to 1,797 identified unauthorised colonies” unfold over 175 sq. km inhabited by individuals from lower-income teams, he mentioned.
It doesn’t apply to 69 prosperous colonies recognized by the Delhi Improvement Authority (DDA) together with Sainik Farms, Mahendru Enclave and Anantram Dairy, Puri added. In July, the Delhi authorities proposed a set of parameters to regularise the 1,797 colonies, which embrace charging one per cent price of circle fee of land for as much as 200 sq. metre plot from occupants apart from a nominal penalty.
Cupboard approves proposal for settlement on science and expertise cooperation between India, US
The Union Cupboard chaired by Prime Minister Narendra Modi has accepted the proposal for Settlement on Science and Know-how Cooperation between India and america of America. Settlement will open a brand new chapter in bilateral relations as either side will leverage complementary strengths spurred by a major convergence of mutual pursuits in science and expertise, the federal government mentioned in a launch.
The Settlement would supply a possibility to advertise ‘high quality’ and ‘high impact’ analysis and innovation partnerships in addition to broadening and increasing relationships between the in depth scientific and technological communities, the discharge mentioned.
Govt approves administrative association on cooperation within the subject of Railways
The Union Cupboard chaired by Prime Minister Narendra Modi has accepted administrative association on Cooperation within the subject of Railways between the Ministry of Railways, India and the Directorate Normal for Mobility and Transport of the European Fee to strengthen future technical exchanges and cooperation.
With inputs from companies
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