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Cabinet panel nod for Vodafone FDI, other proposals

The Hindu Business Line:  February 07, 2014

New Delhi: The Cabinet Committee on Economic Affairs approved several proposals on Thursday including the proposal of CGP India Investment to increase foreign equity in Vodafone India to 100 per cent from 64.38 per cent.

CGP India Investment is an indirect shareholder in Vodafone India and an indirect Mauritian subsidiary of Vodafone International Holdings BV.

The CCEA also approved the revised cost estimates for widening of NH-232 to two lane with paved shoulder from Tanda to Raebareli and from Raebareli to Banda in Uttar Pradesh to be executed by the National Highways Authority of India on Engineering Procurement and Construction mode.

The total expenditure on widening of roads will be Rs. 1,376.29 crore with a completion period of 30 months from the date of start of work. The CCEA also approved the proposal of the Ministry of Finance to amend the guidelines for appraisal of projects eligible for financing under the National Clean Energy Funds. It would enable financing of schemes or programmes of the Ministry of New and Renewable Energy already approved if balances are available.

Another decision was of Health Ministry’s proposal for grant-in-aid scheme for Inter-Sectoral Convergence and Co-ordination for Promotion and Guidance on Health Research also got a nod which will be at an estimated cost of Rs. 1242 crore covering about 750 projects of different duration and cost.

It also gave a nod to the implementation of High Performance Computing system for improved weather, climate and ocean forecast at an estimated cost of Rs. 567.16 crore.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.