New Delhi [India], December 16 (ANI): The Cabinet on Wednesday approved the next round of spectrum auction, revised cost estimate of the northeastern region power system improvement project and decided to transfer the sugar export subsidy directly to farmers' accounts.
The Cabinet meeting was chaired by Prime Minister Narendra Modi.
"Cabinet approves auction of spectrum in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz & 2500 MHz frequency bands, for the validity period of 20 years. A total of 2251.25 MHz is being offered with a total valuation of Rs 3,92,332.70 crore (at reserve price)," IT and Telecommunications Minister Ravi Shankar Prasad said while briefing media.
Cabinet Committee on Economic Affairs has also approved the revised cost estimate of the northeastern region power system improvement project for six states for the strengthening of the intra-state transmission and distribution systems.
"The main objective of the project is the government's commitment for the total economic development of the northeastern region and to strengthen the intra-state transmission and distribution infrastructure in the region," said Information and Broadcasting Minister Prakash Javadekar during briefing media about the decision.
In a move to help the sugarcane farmers, the Cabinet has decided to export 60 lakh tonnes of sugar. The subsidy (Rs 3,500 crore) to be transferred directly to farmers. Rs 5,361 crore of subsidy should be transferred to farmers' accounts within a week and around 5 crore farmers will benefit from this. (ANI)