Jaitley also said the Cabinet has approved the rollout of the National Rural Bank Mission, a scheme in which the World Bank will give $5 million.
Union Minister Arun Jaitley on February 19 said that the Cabinet has approved the ordinances on Triple Talaq, the companies law amendments and the Banning of Unregulated Deposit Schemes.
Also read: Cabinet nod to ordinance on Triple Talaq, says Arun Jaitley
The ordinance for companies law amendments aims to plug gaps in corporate governance and enforcement framework as well as improve the ease of doing business.
A bill to replace the Companies (Amendment) Ordinance, 2018, that was promulgated in November could not be passed during the last session of the current Parliament. Hence, the government has decided to promulgate the Companies (Second Amendment) Ordinance, 2019.
In a bonanza for government employees, the Cabinet approved an additional dearness allowance (DA) of 3 percent over the existing rate of 9 percent for government employees and pensioners, which will be effective from January 1, 2019.
The Cabinet also approved the construction of phase II of the Ahmedabad Metro Rail Project, and the Delhi-Meerut-Ghaziabad corridor.
Also read: Govt clears Rs 30,274 crore Delhi-Ghaziabad-Meerut Regional Rapid Transport System.
Jaitley announced that the Cabinet has approved building 1.95 crore households under Pradhan Mantri Awas Yojana Grameen (PMAYG) by 2022. It has also revised norms for companies to sell 25 percent of coal from captive mines.
The Cabinet has approved the revision of norms under Mid-Day Meal Scheme with an outlay of Rs 12,054 Crore for 2019-20 in addition to the subsidy of about Rs 8,000 crore borne by Department of Food & Public Distribution.
Jaitley also said the Cabinet has approved the rollout of the National Rural Bank Mission, a scheme in which the World Bank will give $5 million.
Electronics and Information Technology Minister Ravi Shankar Prasad also stated that the Cabinet has revised the National Electronic Policy, which will now promote the production of strategic electronics such as Artificial Intelligence (AI), defence electronics among others.
Also read: Govt approves new national electronics policy eyeing 1 crore jobs.
Prasad also said that through this policy, the government aims to make India an electronic manufacturing and export hub, and targets $400 billion turnover in 2025, and provide jobs to 1 crore.
