Here are some important cabinet approvals of January 16, 2019.
- Cabinet approves recapitalisation of Export-Import Bank of India –
The Cabinet has approved to increase the authorized capital of Exim Bank from Rs. 10,000 crore to Rs. 20,000 crore.
Issuance of Recapitalization Bonds by Government of India to the tune of Rs.6,000 crore for capital infusion in Export Import Bank of India (Exim Bank). The equity will be infused in two tranches of Rs. 4,500 crore in FY 2018-19 and Rs.1,500 crore in FY 2019-20 respectively. - Cabinet approves expenditure sanction for Integrated E-filing and Centralized Processing Centre 2.0 Project – Rs.4,241.97crore
The cabinet has given approval to expenditure sanction of Rs.4,241.97crore for Integrated E-filing & Centralized Processing Center 2.0 Project of the Income Tax Department.
The system aims to cut down the processing time for returns to one day from 63 days and expedite refunds.
Infosys has been selected to implement the project after the bidding process. - MoU between India and Australia on the safety in Mines, Testing and Research Station
- Cabinet approves Revised Cost of Estimates (RCE) for 13 new Central Universities in the States of Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir (Two), Jharkhand, Karnataka, Kerala, Orissa, Punjab, Rajasthan and Tamil Nadu, set up under Central Universities Act, 2009
The Union Cabinet has given its approval for incurring an expenditure of Rs.3639.32 core for the 13 new Central Universities for recurring cost and creation of necessary infrastructure for completion of the campuses. The work will be completed within a period of 36 months. - Cabinet approves ex-post facto approval for Agreement on the facilitation of visa arrangements signed between India and Maldives
- Cabinet approves Numaligarh Refinery capacity expansion project worth over Rs 22,000 cr
Cabinet Committee on Economic Affairs has decided to expand the capacity of Numligarh Refinery in 3 Million Metric Tonne Per Annum, (MMTPA) to 9 MMTPA. It involves setting up of crude oil pipeline from Paradip to Numaligarh and product pipeline from Numaligarh to Siliguri at a cost of Rs.22,594 crore. The project is to be completed within a period of 48 months, after approval and receipt of statutory clearances.