Union Cabinet has approved 1,600 crore rupees for Dibang Multipurpose Project in Arunachal Pradesh. <br />'' <br />'' Briefing media persons in New Delhi after the meeting, Information and Minister Prakash Javadelkar said the project is envisaged as a storage-based hydro-electric project with flood moderation as the key objective. <br />'' <br />'' Cabinet, chaired by Prime Minister Narendra Modi, also approved a bill to scrap 58 redundant laws. The move is aimed at weeding out archaic and dead statutes which have lost their relevance. <br />'' <br />'' The NDA government in its two terms has sent to the chopping block 1,824 old laws which had become redundant.<br />'' <br />'' Cabinet also approved the doubling of a vital railway line connecting Guwahati with New Bongaigaon at a cost of 2,042 crore rupees. The project will be completed by 2022-23 and will be executed by the construction organisation of the Northeast Frontier Railway.<br />'' <br />'' It also cleared seven amendments to the insolvency law that seeks to put in place a 330-day deadline for the corporate resolution process. Experts said the changes would help in clearing various roadblocks for resolution process and smoothen the process as well as save time.<br />