The Cabinet Committee on Economic Affairs has approved for attractive Voluntary Retirement Scheme, VRS, and Voluntary Separation Scheme, VSS, packages for employees of HMT Watches Limited, HMT Chinar Watches Limited and HMT Bearings Limited. <br/><br/>This will be given at 2007 pay scales to mitigate the hardships being faced by the employees of these companies. With a cash assistance of 427.48 crore rupees, the three loss making subsidiaries will be closed after separation of about a thousand employees through attractive VRS and VSS and settlement of their dues. <br/><br/>There are 31 Central Public Sector Enterprises (CPSEs) under the Department of Heavy Industry engaged in manufacturing, consultancy and contracting services. Out of these, 12 are making profits. The remaining 19 CPSEs are incurring losses. <br/><br/>The Department of Heavy Industry has been undertaking appraisals of each loss making CPSE to assess the prospects of revival. As a part of this exercise, the loss making CPSEs having the potential of turn around are revived and those found chronically sick are dis-invested or closed down after payment of due compensation to employees.<br/><br/>The Cabinet Committee on Economic Affairs has approved four laning of 99-km Nagina-Kashipur section on NH-74 in Uttarakhand and Uttar Pradesh at a cost of 2535 crore rupees. The project to be implemented under NHDP Phase-IV on Engineering, Procurement & Construction (EPC) basis.

The Cabinet Committee on Economic Affairs has approved for attractive Voluntary Retirement Scheme, VRS, and Voluntary Separation Scheme, VSS, packages for employees of HMT Watches Limited, HMT Chinar Watches Limited and HMT Bearings Limited. <br/><br/>This will be given at 2007 pay scales to mitigate the hardships being faced by the employees of these companies. With a cash assistance of 427.48 crore rupees, the three loss making subsidiaries will be closed after separation of about a thousand employees through attractive VRS and VSS and settlement of their dues. <br/><br/>There are 31 Central Public Sector Enterprises (CPSEs) under the Department of Heavy Industry engaged in manufacturing, consultancy and contracting services. Out of these, 12 are making profits. The remaining 19 CPSEs are incurring losses. <br/><br/>The Department of Heavy Industry has been undertaking appraisals of each loss making CPSE to assess the prospects of revival. As a part of this exercise, the loss making CPSEs having the potential of turn around are revived and those found chronically sick are dis-invested or closed down after payment of due compensation to employees.