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Cabinet announces closure of Hindustan Fluorocarbons, revises cost estimates for 6 NITs

Hindustan Fluorocarbons, which has been making losses since 2013-14, had accumulated losses of Rs 62.81 crore and net worth of (-) Rs 43.20 crore as on 31 March, 2019

twitter-logo BusinessToday.In   New Delhi     Last Updated: January 22, 2020  | 18:39 IST
Cabinet announces closure of Hindustan Fluorocarbons, revises cost estimates for 6 NITs
Javadekar said the Cabinet has designated Daman as capital of Union Territory of Dadra and Nagar Haveli and Daman and Diu

The Union Cabinet on Wednesday cleared several proposals including revises cost estimates of six National Institutes of Technology (NITs) in North East states, extension of OBC commission for six months and closure of Hindustan Fluorocarbons Ltd (HFL).

"The Union Cabinet approved closure of HFL, a central public sector enterprise under the department of chemicals and petrochemicals," Union Minister Prakash Javadekar said during a press briefing.

The state-owned entity, which has been making losses since 2013-14, had accumulated losses of Rs 62.81 crore and net worth of (-) Rs 43.20 crore as on 31 March, 2019.

Javadekar said the Cabinet has also approved the revised cost estimates (RCE) for establishment of permanent campuses of new National Institutes of Technology (NITs), at a total cost of Rs 4,371.90 crore for the period till 2021 - 2022. With the approved revised cost estimates, these NITs will be fully functional from their respective permanent campuses by 31 March, 2022, according to a Cabinet statement. The overall student capacity in these campuses will be 6,320.

The Cabinet also designated Daman as capital of Union Territory of Dadra and Nagar Haveli and Daman and Diu. Last month, the Home Ministry had announced that the Union Territories of Daman and Diu, Dadra and Nagar Haveli will become a single union territory on January 26.

The government has also approved amendments/extension/repeal in the Acts and Regulations dealing with Goods and Services Tax (GST), Value Added Tax (VAT) and State Excise for the newly merged Union Territory.

A commission appointed in 2017 to examine the sub-categorisation of the Other Backward Classes (OBC) has been given a six-month extension by Union Cabinet, said Javadekar. The tenure has been extended by 6 months till 31 July 2020.

The Cabinet has also approved addition of term of reference to the existing Terms of reference of the "Commission". "To study the various entries in the "central list of OBCs and recommend correction of any repetitions, ambiguities, inconsistencies and errors of spelling or transcription."

"The communities in the existing list of OBCs which have not been able to get any major benefit of the scheme of reservation for OBCs for appointment in central government posts and for admission in central government educational institutions are expected to be benefitted upon implementation of the recommendations of the commission," Cabinet said.

The Cabinet has also given its approval for signing of the Memorandum of Understanding (MoU) between India and Brazil on cooperation in the field of oil and natural gas.

By Chitranjan Kumar

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