Cabinet Committee On Economic Affairs

PFC, REC merger hits roadblock as amalgamation to violate RBI norms on debt exposure of state-owned shadow banking firm

In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20.

Government directs ministries to aggressively pursue foreign companies for investment after recent reforms

The Cabinet Secretariat letter reviewed by Firstpost reveals that concerned departments have been told to identify sectors where foreign companies could be invited for fresh investments

Govt to set up unified regulator for IFSCs; bill to be introduced in Lok Sabha after withdrawal from Rajya Sabha

Currently, the banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators—the RBI, SEBI, IRDAI

Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap

In the biggest privatisation drive-ever, the Union Cabinet on Wednesday approved sale of government's stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor

Govt opens up fuel retailing; allows non-oil companies to set up petrol pumps to increase competition

The government on Wednesday opened up fuel retailing norms, allowing non-oil companies to set up petrol pumps to increase competition

Union Cabinet hikes MSPs for rabi crops, approves BSNL-MTNL merger, regularises unauthorised Delhi colonies: 5 key decisions taken today

The Union Cabinet headed by Prime Minister Narendra Modi on Wednesday took major decisions aimed at reviving the economy

Govt hikes minimum support price of wheat by Rs 85 per quintal and pulses by up to Rs 325 per quintal

The government on Wednesday increased the minimum support price (MSP) for wheat by Rs 85 to Rs 1,925 a quintal and for pulses by up to Rs 325 per quintal, official sources said

Govt hikes ethanol procurement price for fuel blending; move may cut oil import bill by $1 bn annually

The government on Tuesday announced an increase in the price of ethanol procured by public sector oil marketing companies for one year starting December

Union Cabinet approves setting up of 75 government medical colleges; move to add over 15,000 MBBS seats

The proposal is part of the phase III of a centrally sponsored scheme for "establishment of new medical colleges by upgrading district or referral hospitals".

Cabinet clears Rs 6,268-cr sugar export subsidy; move will help mills in clearing huge sugarcane arrears to farmers

The government on Wednesday 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