The Union Cabinet has approved a National Policy aimed at transforming India into a leading manufacturing hub of electronic system and design and manufacturing (ESDM) sector.
The policy envisages creation of an environment for electronics and manufacturing of indigenously designed and manufactured chips in the country with a focus on cyber security. It also aims at meeting the domestic demands and enhancing the export potential of electronic products.
An official release said, the policy is expected to create employment opportunities for about two million people with an estimated turnover of 400 billion dollars.
The Cabinet Committee on Economic Affairs (CCEA) also approved the disinvestment of 10 per cent stake of the paid up equity capital in the National Mineral Development Corporation (NMDC).
The government presently holds 90 per cent of the shares in the Corporation.
The CCEA also approved continuing the state component under the Backward Regions Grant Fund in Bihar with an allocation of Rs 1500 crore in 2012-13.
It also gave its nod for continuing with the special plan for Kalahandi-Bolangir-Koraput (KBK) districts in Odisha with an allocation of Rs 250 crore.
The CCEA approved the continuation of additional central assistance of 1400 crore rupees for drought mitigation efforts in the Bundelkhand region of Uttar Pradesh and Madhya Pradesh for the current financial year.
The Cabinet Committee on Infrastructure (CCI) has approved a Railway Ministry's proposal to extend the new broadgauge line from Imphal Road (Tupul) to Imphal with an updated cost of Rs 4444 crore.
25 per cent of the total cost will be funded by railways from general budgetary support and 75 per cent from Finance Ministry.
The project will cover Imphal East, Tamenglong and Senapati districts of Manipur. This line will provide rail connectivity to Imphal with the national mainstream and make possible direct movement of freight and passengers from this region to other parts of the country. The project is expected to be completed by March 2016.
