Cabinet Committee on Economic Affairs, CCEA has approved the proposal for opening of 50 new Kendriya Vidyalayas (KVs) under Civil and Defence Sector in the country. The project will cost1160 crore rupees. An official release said, the new KVs will be opened from class Ist to 5th for which 650 regular teaching and non- teaching posts will be created. <br/><br/>The school will grow every year with addition of one more higher class and, when the school grows upto class 12th and becomes a full fledged school there will be a requirement of about 4000 regular posts of various categories. These new KVs when fully functional will provide quality education to students.The new KVs will address the educational needs of eligible students with high quality standards and will play a role of pace-setting educational institutions in the districts concerned. <br/><br/>The CCEA has also given its approval for development of the six laning of Handia-Varanasi section of National Highways in Uttar Pradesh.The project will cost over 2,147 crore including cost of land acquisition, resettlement and rehabilitation. The total length of the road will be about 73 kilometers. The project will lead to the improvement of infrastructure in Uttar Pradesh and reduce the time and cost of travel for traffic, particularly heavy traffic, plying on this stretch. <br/><br/>The CCEA also gave its approval for marketing and pricing freedom to the Coal Bed Methane (CBM) Contractors to sell the CBM in the domestic market. While discovering the market price , the Contractor has to ensure a fully transparent and competitive process for sale of CBM so that best possible price is realized for the gas without any restrictive commercial practices. The policy is expected to incentivize the CBM operation in the country. It will also boost gas production and generate economic activities which in turn will create more employment opportunities. The CCEA also gave its in-principle nod to for sale of 24 per cent equity by Indian Oil Corporation in one of its Joint Venture Companies, Lubrizol India Private Limited to Lubrizol Corporation, USA (LC).