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Union Cabinet okays Covid stimulus package
Union Ministers Prakash Javadekar and Ravi Shankar Prasad address a press briefing on Cabinet and CCEA decisions at National Media Centre in New Delhi on Wednesday
- Rs 3 lakh crore scheme for power discoms gets green signal
- BharatNet project for broadband services cleared
New Delhi: The Union Cabinet headed by Prime Minister Narendra Modi on Wednesday approved the stimulus package announced by Union Finance Minister Nirmala Sitharaman two days ago, Union Minister Prakash Javadekar said.
As part of the package to support the pandemic-hit economy, Sitharaman had on Monday announced Rs 1.5 lakh crore of additional credit for small and medium businesses, more funds for the healthcare sector, loans to tourism agencies and guides, and waiver of visa fee for foreign tourists.
The Cabinet also approved the export insurance cover of Rs 1.22 lakh crore scheme and power discom scheme worth Rs 3.03 lakh crore. Apart from these, the Cabinet also cleared the rollout of the BharatNet project for broadband services across 3.61 lakh villages in 16 states under public-private partnership (PPP) mode with viability gap funding of Rs 19,041 crore, Telecom Minister Ravi Shankar Prasad announced.
The Cabinet Committee on Economic Affairs (CCEA) approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore on Wednesday.
Briefing the media about the decision, Power Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. The Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay."
He said the funds would be given to power distribution companies (discoms) to strengthen their system. The Reform-Based Result-Linked Power Distribution Scheme was announced in Budget earlier this year. The Cabinet also approved PPP mode for the launch of BharatNet project in 3,61,000 villages in 16 states.
Telecom Minister Ravi Shankar Prasad said the total expense will be Rs 29,430 crore, which includes Rs 19,041 crore to be spent by the centre for the viability gap funding.
