The Union Cabinet approved a one-time grant of Rs 22,000 crore to three state-owned to cover the losses that occurred while selling LPG below the rate, released the PLB to railway employees, and approved the construction of a container terminal at Deendayal Port in Gujarat.
On Wednesday, the Union Cabinet approved a one-time grant of Rs 22,000 crore to three state-owned to cover the losses that occurred while selling LPG below the rate. Also, released the PLB to railway employees and approved the construction of a container terminal at Deendayal Port in Gujarat.
Grants to Oil Public Sector Undertakings
The government has extended the one-time grant of Rs 22,000 crore to three state-owned fuel retailers—to cover their losses caused due to selling Liquified Petroleum Gas (LPG) below cost to consumers from June 2020 to June 2022—Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).
During this time, international LPG prices increased by 300 percent. However, in order to protect consumers from international fluctuations in LPG prices, only 72 percent of prices were raised in India, according to an official statement.
PLB for railway employees
For the fiscal year 2021-22, the government approved the productivity-linked bonus for railway employees, which is typically given during the Dussehra or Durga puja holidays.
The PLB amount has been paid to about 11.27 lakh non-gazetted railway employees, which is equivalent to wages for 78 days. The maximum amount payable per eligible railway employee is nearly 17,950. The government said that the decision had been taken despite the adverse financial situation caused by post-COVID challenges.
This above amount has been given to various categories, including drivers and guards, technicians, technician helpers, track maintainers, track maintainers, technician helpers, supervisors, and another group of ‘C’ staff.
Multi-State Cooperative Societies (Amendment) Bill, 2022
The government has also approved the Multi-State Cooperative Societies (Amendment) Bill, 2022. This Bill is aimed to amend the Multi-State Cooperative Societies Act, of 2002. The amendments were proposed to improve governance, reform the electoral process, establish robust monitoring mechanisms, and increase transparency. Also, the Bill will help to improve the composition of the board and ensure financial discipline.
Container terminal project at Deendayal Port, Gujarat
Broadcasting Minister Anurag Thakur said that a new project to develop the container terminal at Tuna-Tekra at Deendayal Port in Gujarat has been approved. This project is in public-private partnership mode.
The estimated cost is Rs 4,243.64 crore, this will be on the part of the concessionaire and the remaining cost of Rs 296.20 crore will be on the part of the concessioning authority toward the development of common user facilities.
Deendayal Port is located on the west coast of the Gulf of Kutch in Gujarat and is one of the 12 major ports in India.
The concessionaire will be responsible from the first stage to the last stage of this project, like the design, engineering, financing, implementation, commissioning and maintenance of the project.
