February 18, 2010 2:18 PM

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CCEA approves 800 crore rupees as equity infusion in Air India

Government today approved a proposal on strengthening an upgradation of state government Medical Colleges for starting new post graduate disciplines and increasing the seats at Post graduate level by central funding in the 11th Plan Period. According to an official press release the CCEA decision with result in additional five thousand seats in Post graduate courses in 148 State Medical Colleges in various disciplines to strengthen the existing public health delivery system. The Centre will provide a one time grant of 1350 crore rupees under a new Centrally Sponsored Scheme. The proposal mooted by the Union Health and Family Welfare Ministry will have the funding pattern of 75 percent by the Central government and 25 percent by the States. Funds will be directly reimbursed to the Heads of the Institution in two instalments and the quantum will be decided by the Empowered committee to be haded by Union Health Secretary. In yet another important decision the CCEA approved release of eight hundred crore rupees as equity infusion in the National Aviation Company. It will not only ease the cash flow situation of the company but also preclude borrowings from the markets at a high cost. The company's present equity capital of 145 crore rupees is not sufficient keeping in view its size. The CCEA also approved investment in gas field development project in two blocks in Myanmar and participation in onshore midstream Pipeline Company by ONGC Videsh Limited and GAIL.

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