The Union Cabinet has approved release of wages directly to the accounts of the workers engaged under the Mahatma Gandhi National Rural Employment Guarantee Act, (MGNREGA). The decision in this regard was taken by the Cabinet, chaired by Prime Minister Narendra Modi, in New Delhi last evening. Our correspondent reports that as per the scheme, the wage component of MGNREGA will be released following the State Employment Guarantee Fund window directly to the worker's accounts based on a fund transfer order to be generated by states' implementing agencies in accordance with procedures prescribed by Rural Development Ministry. The decision is aimed at further streamlining the flow of funds and to empower state governments to deliver entitlements as per the objectives of the Act. <br/><br/>The proposed system would benefit all stakeholders and improve overall efficiency of implementation. The scheme will also ensure bring greater transparency in movement of funds and lesser levels of corruption in MNREGA. The gram panchayats would also be empowered to take up work according to the agreed labour budget, without struggling for release of funds. After this scheme the state governments would be able to spend more time in planning and improving the process efficiency,without bothering to manage funds for implementation of scheme.<br/><br/>The Cabinet also gave its nod to hiving off BSNL towers into a new company. This will help BSNL to realign its structure in the highly competitive telecom sector. This will also help the public sector company to unlock its tower assets and improve its financial position. The Telecom Department will constitute an inter-ministerial group for working out capital structure and organizational structure of the new company.<br/><br/>The Cabinet cleared financial assistance of 627 crore rupees to BSNL and MTNL for surrendering 800 MHz telecom spectrum in some circles.<br/>The Cabinet also gave its nod for providing one rank one pension facility for retired High Court judges. It also cleared amendments to arbitration law for faster disposal of commercial disputes.<br/><br/>The Cabinet also approved a proposal to sign an agreement with UNESCO for establishment of a Centre for World Natural Heritage Management and Training for Asia-Pacific region at the Wildlife Institute of India in Dehradun as a category-2 centre of the UN body.