The Hindu : National : Moratorium on compensation extended

Online edition of India's National Newspaper
Saturday, Jul 22, 2006

National

National

Moratorium on compensation extended

Special Correspondent

NEW DELHI: The Cabinet Committee on Economic Affairs has decided to extend up to September 2006 the moratorium on payment of compensation consequent to the merger of Vayudoot with Indian (formerly Indian Airlines).

The idea is to ensure that the balance Rs. 3.11 crore out of the total of Rs. 138.33 crore owed by Indian on account of the merger can also be settled fully, Union Minister and Cabinet spokesperson Priyaranjan Dasmunsi said here on Thursday.

This would help in Indian discharging Vayudoot's liabilities during this financial year without additional burden.

Farm marketing

Chaired by Prime Minister Manmohan Singh, the CCEA also decided to modify the guidelines of the Central scheme for development and strengthening of agricultural marketing infrastructure to allow State marketing boards and other agencies to utilise their own funds for financing projects, instead of taking bank loans.

Higher subsidy

Another decision was to make all projects in Uttaranchal, Himachal Pradesh and Jammu and Kashmir eligible for higher subsidies admissible for hill areas, irrespective of the altitude.

Pacts with Ireland, Fiji

The Cabinet, which also met on Thursday, gave ex post facto approval for an agreement on cultural cooperation with Ireland and for an accord with Fiji in health and medicine.

The pacts with Ireland and Fiji were signed in January and October last.

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