The Cabinet Committee on Economic Affairs has approved attractive Voluntary Retirement Scheme, VRS, and Voluntary Separation Scheme, VSS, package for employees of HMT Watches Limited, HMT Chinar Watches Limited and HMT Bearings Limited. <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 Rs 427.48 crore, 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/>The CCEA has approved four laning of 99-km Nagina-Kashipur section on NH-74 in Uttarakhand and Uttar Pradesh at a cost of Rs 2,535 crore. The project will be implemented on Engineering, Procurement and Construction basis.