The Hindu : National : FCI to get special securities of about Rs. 16,000 cr.

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Friday, Mar 17, 2006

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National

FCI to get special securities of about Rs. 16,000 cr.

Special Correspondent

It is for the grain supplied for the food for work programme

NEW DELHI: The Union Cabinet on Thursday approved the issuing of special securities totalling about Rs. 16,000 crore to the Food Corporation of India for the grain supplied by it for the food for work programme.

"It has been decided that special securities of approximately Rs. 16,000 crore would be issued to the FCI for the foodgrains provided by it to the Ministry of Rural Development for the food for work programme," said Union Finance Minister P. Chidambaram. Speaking to reporters after the Cabinet meeting, he said the decision would be placed before Parliament since the issue required its final approval. The measure is intended to improve the financial health of the FCI as it would take care of its accumulated outstandings.

Panel term extended

The Cabinet also approved a further extension by six months for the Justice R.J. Kochar Commission of Inquiry set up to go into the collapse of the Daman Ganga Bridge linking Nani Daman and Moti Daman in Daman and Diu in August 2003 and gave the nod for the signing of an agreement with South Africa on merchant shipping and other maritime-related issues. The Kochar Committee was earlier required to submit its report this month. Now, it would have time till September.

AIIMS-like institutions

The Cabinet Committee on Economic Affairs also met on Thursday and gave its formal approval for a project to establish six AIIMS-like institutions in Bihar, Rajasthan, Orissa, Madhya Pradesh, Chattisgarh and Uttaranchal. Each of them would have a 850-bed hospital providing medical treatment in 39 speciality and super-speciality disciplines. They would also offer undergraduate medical education with an intake capacity of 100 seats a year and post-graduate and doctoral courses as per the Medical Council of India norms.

Mr. Chidambaram said a Group of Ministers would soon be set up to look into the issue of how best the institutions could be financed and managed.

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