Key decisions taken by union cabinet today

Finance minster Piyush Goyal and union law minister, Ravi Shankar Prasad addressed the media regarding key decisions taken in today's cabinet meeting.Ravi Shankar Prasad also expressed his displeasure over the prevailing ruckus in the parliament. He said," We are surprised by the attitude of Congress party. It’s a new low in parliamentary democracy."Raising doubts over Congress' behaviour , he said, "Sad that Congress party is not allowing the national President of the ruling party to talk."Piyush Goyal, categorically mentioned that most bad loans are due to lending done prior to 2014. We have taken many steps to improve the health of PSU banks. IDBI Bank & LIC bank board have decided for a takeover, said Piyush Goyal. He said it is a win-win situation for both the banks.These are the key decisions that were taken in today's cabinet meet*Bill to restore the original provisions of Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act.* Dilution of Hindustan Copper stake to 66.13% from 76.05%.* Rs 1258 crore interest-free loans to revive 3 fertiliser units* Sale of government stake in IDBI Bank to LIC.* The approval of extra budgetary resources of Rs 15,000 crore for Swachch Bharat via NABARDTaking about IDBI and LIC bank, Piyush Goyal said:* LIC will have 51 per cent in IDBI Bank* IDBI Bank will became a subsidiary of LIC bank* LIC Policy holders will have access to low cost funds due to IDBI bank.

from The Economic Times https://ift.tt/2AvEzCj