AMN / NEW DELHI
Union Cabinet today gave its nod to the proposal of Ministry of Road Transport and Highways, authorizing National Highways Authority of India, NHAI to set up Infrastructure Investment Trust, as per Guidelines issued by Securities and Exchange Board of India, SEBI.
It will enable NHAI to monetize completed National Highways that have a toll collection track record of at least one year and NHAI reserves the right to levy a toll on the identified highway.
The trust as an instrument provides greater flexibility to investors and it is expected to create opportunities like the generation of specialized Operation and Maintenance Concessionaires, attract long-term capital to the Indian highway market and retail domestic savings and corpus of special institutions to be invested in the infrastructure sector.
The Cabinet gave its approval to introduce the Aircraft (Amendment) Bill, 2019 for carrying out the amendments to the Aircraft Act, 1934. The bill will now be introduced in the Parliament.
The bill enhances the maximum limit of fine from the existing 10 lakh rupees to one crore rupees.
Union Cabinet has approved the proposal for providing additional equity support to India Infrastructure Finance Company Limited, IIFCL to the tune of 5,300 crore rupees in the current financial year and 10 thousand crore rupees in the next fiscal year.
Union Cabinet has given its nod for signing of Memorandum of Understanding between Central Electricity Authority of India and Japan Coal Energy Centre.
It will provide an enabling framework to address issues and barriers in expediting sustainable, stable and low carbon thermal power development by means of studies, training program and knowledge-sharing activities.
The Cabinet also approved ex-post facto the Memorandum of Understanding between the Central Drugs Standard Control Organization (CDSCO) and Saudi Food and Drug Authority in the field of Medical Products Regulation.
The MoU will facilitate a better understanding of the regulatory aspects between the two sides and help in increasing India’s export of medical products to Saudi Arabia.