Home / BUSINESS / Cabinet meeting: Approval for 75 new medical colleges, 100 percent FDI in coal mining – The Indian Express

Cabinet meeting: Approval for 75 new medical colleges, 100 percent FDI in coal mining – The Indian Express

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india independence day, pm modi, narendra modi, prakash javadekar, plastics, plastics in india, plastic ban, indian express news Prakash Javadekar said that Cabinet has approved Establishment of an International Coalition for Disaster Resilient Infrastructure (CDRI).

The government will start 75 new medical colleges in the country, announced Information and Broadcasting Minister Prakash Javadekar after a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday. The new medical colleges, to be opened in unreserved districts, will be built at the expenditure of Rs 24,375 crore and will add 15,700 more MBBS seats, said the minister, adding that it is the biggest expansion in medical education.

Subsidy on sugarcane export

Besides this, the government also announced a Rs 6,268 crore subsidy for export of 6 million tonnes of sugar during the 2019-20 marketing year starting October in order to liquidate surplus domestic stock and help mills in clearing huge sugarcane arrears to farmers.

“We have taken an important decision in the interest of sugarcane farmers. The cabinet has approved export subsidy for 6 million tonnes for 2019-20,” Javadekar told reporters after the cabinet meeting.

A lump sum export subsidy of Rs 10,448 per tonne will be given to sugar mills in the 2019-20 marketing year (October-September), costing the exchequer Rs 6,268 crore as a subsidy, he said.

This will benefit millions of farmers in Uttar Pradesh, Maharashtra and Karnataka as well as other states, he added. The government is providing subsidy for export of 5 million tonnes of sugar for the current 2018-19 marketing year.

The cabinet has also establishment of an International Coalition for Disaster Resilient Infrastructure (CDRI), said Javadekar adding that the prime minister will launch CDRI during UN Climate Summit in New York on 23rd September 2019.

100 per cent FDI in coal mining

Speaking after Javadekar at the press briefing, Union Commerce Minister Piyush Goyal announced that the government has relaxed Foreign Direct Investment rule for foreign single-brand retailers and also permitted foreign investment in contract manufacturing and coal mining.

Goyal said 100 per cent FDI under automatic route in coal mining and associated infrastructure has been approved.

To boost domestic manufacturing, 100 per cent FDI in contract manufacturing under automatic route has been allowed, he said, adding that 26 per cent FDI has been allowed in digital media.

On FDI in single-brand retailing, the Cabinet has expanded the definition of mandatory 30 per cent domestic sourcing norm. It also allowed single-brand retailers to start online sales, waiving the previous condition of setting up a mandatory brick-and-mortar store, he said.

(With PTI inputs)

Cabinet meeting: Approval for 75 new medical colleges, 100 percent FDI in coal mining – The Indian Express

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