The cabinet today gave its approval for the Revised Cost Estimate (RCE) of 2904 crore rupees for the Kaladan Multi Modal Transit Transport Project in Myanmar. The project will provide an alternate access route to the North-Eastern region of India and contribute towards the region's economic development. Speaking to reporters, Communications and IT minister Ravi Shankar Prasad said, being a key connectivity project, it will promote economic, commercial and strategic links between India and Myanmar. <br/><br/>AIR correspondent reports, this project was jointly identified by the India and Myanmar to create a multi-modal mode of transport for shipment of cargo from the eastern ports of India to Myanmar as well as to the North-Eastern part of India through Myanmar. The cabinet also approved upgradation of existing National Institute of Fashion Technology (NIFT) campuses for implementation of reservation for OBC students. Mr Prasad said, the decision shows government's commitment to the empowerment of the OBCs. <br/><br/>Mr. Prasad informed that Cabinet Committee on Economic Affairs (CCEA) gave its nod to one time fund infusion to revive and physically complete long pending national highways projects. The CCEA has given its ex-post facto approval for a Special Banking Arrangement (SBA) for a loan of 7000 crore rupees with the consortium of Public Sector Banks led by State Bank of India (SBI) and Punjab National Bank (PNB) for settlement of outstanding indigenous urea subsidy bills of fertilizer companies in 2014-15. <br/><br/>CCEA cleared construction of Houses and barracks at various establishments of CISF, CRPF and ITBP at a cost of 3090 crore rupees. The construction will be done at 68 locations across the country. The cabinet also approved the recommendations of the Committee of secretaries to regularize the 2007 Pay Revision implemented by Coal India Limited (CIL) with effect from 1st January 2007 in the loss making subsidiaries. Mr Prasad said this is being allowed as a special dispensation to CIL. <br/><br/>The cabinet also approved the payment of Performance Related Pay (PRP) to executives and non-unionised supervisors of CIL and its subsidiaries. Mr Prasad informed, the cabinet has approved extension of productivity linked reward, PLR, for port and dock workers for the year 2014-15 and 2015-16. He said, payment will be made after adjusting ad-hoc amount already paid for the year 2014-15 which will benefit 44 thousand workers and officers of major ports and dock.

The Union Cabinet has approved revised cost of 2904 crore rupees for the Kaladan Multi Modal Transit Transport Project in Myanmar. <br/><br/>This information was given by Communication and IT Minister Ravi Shankar Prasad after the Cabinet meeting. <br/><br/>Addressing a press conference in New Delhi this afternoon, the Minister said the decision will help in the development of North Eastern region. <br/><br/>The Minister said, the Cabinet also approved upgradation of existing National Institute of Fashion Technology campuses for implementation of reservation for OBC students.<br/> <br/>Mr Prasad said, the decision shows government's commitment to the empowerment of the OBCs. <br/><br/>Mr. Prasad informed that Cabinet Committee on Economic Affairs gave its nod to one time fund infusion to revive and physically complete long pending national highways projects. <br/><br/>Mr Prasad said, the CCEA also cleared special banking arrangement for a loan of Rs. 7,000 crore for payment of outstanding subsidy to fertilizer cos during 2014-15.<br/><br/>CCEA cleared construction of Houses and barracks at various establishments of CISF, CRPF and ITBP at a cost of Rs. 3090 crore. <br/><br/>The construction will be done at 68 locations across the country. <br/><br/>Other decisions taken by the Cabinet include regularization of 2007 pay revision of loss making subsidiaries of Coal India Limited.