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The Cabinet Committee on Economic Affairs approved a special banking arrangement for a loan of Rs 6,806 crore for payment of outstanding subsidy to fertiliser companies for 2014-15.
The two banks as part of the arrangement are State Bank of India and Punjab National Bank, said Ravi Shankar Prasad, Minister for Communication and Information & Technology.
Highway projects
The CCEA also approved a one time fund infusion for physically incomplete languishing national highway projects. The benchmark has been set as 50 per cent completion by November 2014, said Prasad.
PLI for Coal India staff
Meanwhile, the Union Cabinet approved the payment of performance linked pay to Coal India's managerial staff, supervisory staff, executives and non-unionised staff, effective 2007.
It also approved a productivity linked reward scheme for port and dock employees for payment from 2014-15 to 2015-16.
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