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Cabinet clears strategic disinvestment proposal for BHEL, Neelachal Ispat, MMTC, NMDC

The Cabinet also approved ratification of migration and mobility partnership agreement between India and France; an MoU between India and the United Kingdom was also approved for enabling energy self-sufficiency for Railways

twitter-logo BusinessToday.In   New Delhi     Last Updated: January 8, 2020  | 17:07 IST
Cabinet clears strategic disinvestment proposal for BHEL, Neelachal Ispat, MMTC, NMDC
Union Minister Prakash Javadekar

The Union Cabinet on Wednesday cleared several proposals including strategic disinvestment of small PSUs and ratification of MoUs on energy sufficiency between India and the UK and promulgation of Mineral Laws.

"The Cabinet approved in-principle strategic disinvestment of equity shareholding in five small PSUs -- Neelachal Ispat Nigam Ltd, Minerals and Metals Trading Corporation Ltd, National Mineral Development Corp, MECON and Bharat Heavy Electrals Ltd," Union Minister Prakash Javadekar said during a press briefing.

Apart from that, the Cabinet also approved ratification of migration and mobility partnership agreement between India and France. The agreement, signed in March 2018 till 2025 -- incorporates provisions for auto-renewal.

An MoU between India and the United Kingdom was also approved for enabling energy self-sufficiency for the Indian Railways.

Also read: Cabinet approves changes to insolvency law; sanctions funds for NPR, Census 2021

Besides, the Institution of National Importance (INI) status has also been conferred on the cluster of Ayurvedic institutions at the Gujarat Ayurveda University campus in Jamnagar.

The Cabinet also approved promulgation of Mineral Laws (Amendment) Ordinance, 2020. The Ordinance will amend Mines and Minerals (Development and Regulation) Act, 1957, and Coal Mines (Special Provisions) Act, 2015.

"The allocation of coal or lignite blocks for composite prospecting licence-cum-mining lease has been provided (under the licence)... the requirement of previous approval in cases where the allocation of blocks was made by the Central government has been dispensed with," a government statement said. This would speed up the process of implementation of projects, ease of doing business, simplification of procedure and benefit people in areas where minerals are located, it added.

Also read: Modi cabinet gives go-ahead to update National Population Register; earmarks Rs 8,500 crore

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