Key Points of Modi’s Cabinet meeting | Fusion - WeRIndia

Key Points of Modi’s Cabinet meeting

Key Points of Modi’s Cabinet meeting

A cabinet meeting was held by Prime Minister Narendra Modi in New Delhi yesterday.

In this meeting, several key decisions are taken.

Union minister Prakash Javadekar briefed the decisions of the cabinet to the media.

Here are some important key points of the cabinet meeting:

  • The minimum support price (MSP) for rabi crops has been increased by the cabinet. These crops include lentil, wheat, gram, and mustard. As the produce would arrive in a few days in the market, the decision is likely to boost farmers. The MSP for these crops has been hiked from 50 per cent to 109 per cent. The MSP for wheat has been increased by ₹85 per quintal. It increased by ₹255 for gram, ₹325 for lentil and ₹225 for mustard.
  • The cabinet also decided to regularize unauthorized colonies in Delhi as per the recommendations of a committee. The move would help around 40 lakh people who are living in unauthorized colonies by providing ownership rights. This decision is likely to impact the upcoming Delhi Assembly elections.
  • In order to increase competition, the cabinet decided to allow new companies to enter the petrol and diesel retail market. This would also attract investment and provide new employment opportunities.
  • The cabinet also decided to reinforce MTNL and BSNL to strengthen PSUs. The minister said that neither of them is being closed nor being disinvested. They are not being hired by any third party but will be merged in the future. MTNL would work as a subsidiary of BSNL for the time being.
  • The spectrum of 4G is to be allocated to these. Both will be provided with 4G spectrum on the year 2016 price. Sovereign bonds worth ₹15,000 crores is to be raised and their assets worth ₹38,000 crores would be monetized.
  • The government would offer attractive VRS (voluntary retirement scheme) packages to employees for which ₹29,937 crores would be spent.

Image credit: PM Narendra Modi in Singapore image by Narendra Modi is licensed under CC BY-SA 2.0

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