September 11, 2014 8:29 AM

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Centre clears stake sale in CIL, ONGC, NHPC; Disinvestment to fetch Rs 43,000 crore

The Cabinet Committee on Economic Affairs (CCEA) approved the sale of stake in Coal India Limited (CIL), Oil and Natural Gas Company (ONGC) and National Hydro Power Corporation (NHPC) to garner a combined Rs 43 thousand crore. Official sources said said that CCEA has cleared 10 per cent stake dilution in CIL, 5 percent in ONGC and 11.36 percent in NHPC .

At current market prices, the sale of shares in CIL could garner Rs 23,000 crore and in ONGC Rs 18,000 crore while Rs 2,800 crore will come in government's hand through disinvestment in NHPC.

The CCEA also gave its approval for Phase-V of the Unique Identification scheme AADHAAR for undertaking enrollments in Uttar Pradesh, Bihar, Chhattisgarh and Uttarakhand.

With this, the Unique Identification Authority of India(UIDAI) has been given the target of generating 100 crore Aadhaar numbers by 2015. So far, more than 67.38 crore Aadhaar numbers have been generated in the country.

The project is aimed at ensuring inclusive growth by providing digital, online, verifiable identity to all residents, including marginalized sections of society.

The CCEA gave its nod to the development of an additional liquid bulk terminal at Jawaharlal Nehru Port Trust, Mumbai.

The project will be implemented under the Private Public Partnership mode with an estimated cost of Rs 2496 crore. It will facilitate industrial growth in the hinterland and also reduce transaction cost for users. The project will also create, additional employment opportunities and lead to socio-economic development of the region.

The CCEA decided to provide non-plan budgetary support of around Rs 288 crore for liquidation of statutory dues including Provident Fund, Gratuity and Pension besides and salary and wages from September 2013 to March this year for eleven Central Public Sector Enterprises.

The Cabinet Committee on Economic Affairs also approved the proposal for implementation of the Integrated Coffee Development Project of the Coffee Board during the 12th Plan. The projected outlay of the scheme is Rs. 950 crore. The main objective of the scheme is to develop improved varieties and technologies for increasing production, productivity and quality of coffee.

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