Image Source : PTI Cabinet briefing by Union Ministers Piyush Goyal and Prakash Javadekar

Several major announcements to boost jobs and farmers' income were made by the Union Cabinet Wednesday. Addressing a press conference, Union Ministers Prakash Javadekar and Piyush Goyal announced the government has decided to open 75 new medical colleges.

The government also decided to relax norms for Foreign Direct Investment in several sectors including single-brand retail, digital media and the manufacturing sector as part of an all-out effort to boost the flagging economy.

The cabinet committee headed by Prime Minister Narendra Modi has also decided that all procurements made from India by the single-brand retail entity for the brand shall be counted as local sourcing.

Cabinet approves setting up of 75 govt medical colleges

The CCEA has approved setting up of 75 government medical colleges to be attached with existing district or referral hospitals by 2021-22. The establishment of new medical colleges, under phase III of the ongoing Centrally sponsored scheme, will add at least 15,700 MBBS seats in the country.

The new medical colleges would be set up in under-served areas having no medical colleges, with district hospitals having at least 200 beds, a government statement said.

The establishment of new medical colleges, to be attached with existing district and referral hospitals, would lead to an increase in the availability of qualified health professionals, improve tertiary care in the government sector, utilise the existing infrastructure of district hospitals and promote affordable medical education in the country, it said.

Cabinet clears Rs 6,268-cr sugar export subsidy

The government has 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.

"We have taken an important decision in the interest of sugarcane farmers. The cabinet has approved export subsidy for 6 million tonnes for 2019-20," Prakash Javadekar told reporters after the cabinet meeting.

A lump sum export subsidy of Rs 10,448 per tonne will be given to sugar mills in the 2019-20 marketing year (October-September), costing the exchequer Rs 6,268 crore as a subsidy, he said.

Cabinet eases FDI rules for single-brand retail

The government has relaxed FDI rule for foreign single-brand retailers and has also permitted foreign investment in contract manufacturing and coal mining. Briefing reporters on the decisions taken by the Union Cabinet headed by Prime Minister Narendra Modi, Piyush Goyal said 100 per cent FDI under automatic route in coal mining and associated infrastructure has been approved.

Cabinet approves 26% FDI in digital media

The Union Cabinet has approved 26 per cent FDI in digital media with government approval. Currently, 49 per cent FDI is provided under the approval route in news channels and the government has now decided to expand the span of FDI to the digital media space.

"The extant FDI policy provides for 49 per cent FDI under approval route in up-linking of 'News & Current Affairs' TV channels. It has been decided to permit 26 per cent FDI under government route for uploading/streaming of news and current affairs through Digital Media, on the lines of print media," an official statement said.

Cabinet allows 100% FDI in coal mining via automatic route

The CCEA has approved 100 per cent FDI through the automatic route in coal mining and related activities. "It has been decided to permit 100 per cent FDI under automatic route for sale of coal, for coal mining activities including associated processing infrastructure subject to provisions of Coal Mines Act, 2015 and the Mines and Minerals Act, 1957," an official statement said.

As per the present FDI policy, 100 per cent FDI under automatic route is allowed for coal and lignite mining for captive consumption by power projects, iron and steel and cement units and other eligible activities permitted under and subject to applicable laws and regulations.

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Watch full press conference here

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