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The Cabinet on Wednesday approved the closure of Tungabhadra Steel Products Ltd (TSPL). The decision also allowed the name of the company to be struck off from the Registrar of Companies after settling balance liabilities of TSPL. An official statement said the Cabinet Committee on Economic Affairs had approved the closure of the company in December 2015 after discharging all dues to employees/ workers and creditors.
The Cabinet also approved the transfer of MMH (Metallurgical and Material Handling Plants) to the Karnataka government along with 20,000 square metres of land. Selling 82.37 acres of the company's land at Hospet to Karnataka for use by the Karnataka State Housing Board also got the Cabinet’s nod. The land is being sold to the Karnataka government at the rate of ₹66 lakh per acre offered by them, an official statement added.
The Cabinet Committee on Economic Affairs has approved the continuation of the Members of Parliament Local Area Development Scheme till the term of the 14th Finance Commission (March 31, 2020). The scheme would entail an annual allocation of ₹3,950 crore and a total outlay of ₹11,850 crore over the next three years, with an additional annual allocation of ₹5 crore per year for monitoring through independent agency(ies) and for capacity building/ training to state/district officials to be imparted by the Ministry, an official statement added.
The Cabinet also approved the cadre review of Group 'A' Executive Cadre of the Central Industrial Security Force (CISF). The approval provides for the creation of 25 posts of various ranks from the rank of Assistant Commandant to Additional Director-General, to enhance the supervisory staff in senior duty posts of CISF.
An official statement said the restructuring of the CISF cadre will result in increase of Group 'A' posts from 1,252 to 1,277 with the increase of two posts of Additional Director-General, seven posts of Inspector-General, eight posts of Deputy Inspector-General and eight posts of Commandant.
The Cabinet also approved the proposal to amend Section 4(1) and Section 5(1) of the National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999, to fix the term of the Chairperson and Members of the Board of National Trust for three years.
A Memorandum of Understanding between India and Canada for cooperation in the field of science & technology also got the Cabinet’s nod
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