The Cabinet approved a scheme for creation of National Optical Fiber Network for providing broadband connectivity to Gram Panchayats. The objective of the scheme is to extend the internet facility to Gram Panchayat level at an estimated cost of 20,000 crore rupees initially. Making an announcement in New Delhi, on Tuesday the Information and Broadcasting Minister Ambika Soni said a similar investment is likely to be made by the private sector.
Complementing the government's efforts besides creating additional employment, e-health, e-education and e-agriculture facilities Mrs. Soni said, this will also enable effective and fast implementation of various mission mode e-governance projects amounting to approximately 50,000 crore rupees
Mrs. Soni said the Cabinet approved the proposal of one per cent inter-subsidy on housing loan scheme with liberalizing the limit upto 15 lakh rupees. This, she said, is subject to a maximum cost of 25 lakh rupees of the house.
Mrs. Soni said that National Housing Bank will be the implementing agency for this scheme both for commercial banks and housing finance corporations and a budgetary provision of 500 crore rupees, has been made for the current fiscal to implement the scheme.
In yet another important decision, the Cabinet approved the recommendations of the wage boards recommending quantum jump for journalists and non-journalists working in print media. The recommendations will come into effect from first of July 2010 and will benefit more than 40 thousand newspaper employees. She said that the transport and house rent allowance will be paid from the date of the notification.
The Cabinet also gave its nod to augment the capital base of National Bank for Agricultural and the Rural Development, NABARD, by infusing 3000 crore rupees as government's equity.
The Minister said, the equity will be paid in two installments. The first installment will be of one thousand crore rupees in this fiscal and another 2000 crore rupees will be pumped in the next fiscal. This will raise the authorised capital of the bank to 5000 crore rupees.
The Information and Broadcasting Minister said that government also decided to raise its quota in the International Monetary Fund, IMF organisation from 2.44 to 2.75 per cent. She said, with this India will be among the 10 largest quota share holders at the IMF.
The new manufacturing policy also approved by the Cabinet. The policy aims to create one hundred million jobs in next 10 years. The policy paves the way for building industrial zones and beef up manufacturing with world class infrastructure and softer labour laws.
Briefing reporters about the new policy, the Commerce Minister Anand Sharma said, the government is keen to lift the share of manufacturing sector in the GDP to 25 per cent in the next decade. It is at 16 per cent now. The new policy not only envisages to develop industrial infrastructure but also creation of large integrated industrial townships known as national investment and manufacturing zones. The policy also calls for compliance of labour and environmental laws while introducing procedural simplifications and rationalization.
