Cabinet approves Rs 1,600 cr for Dibang Multipurpose Project in Arunachal

Union Cabinet has approved 1,600 crore rupees for Dibang Multipurpose Project in Arunachal Pradesh.

Briefing media persons in New Delhi after the meeting, Information and Broadcasting Minister Prakash Javadekar said the project is envisaged as a storage-based hydro-electric project with flood moderation as the key objective.

Cabinet, chaired by Prime Minister Narendra Modi, also approved a bill to scrap 58 redundant laws. The move is aimed at weeding out archaic and dead statutes which have lost their relevance.

The NDA government in its two terms has sent to the chopping block 1,824 old laws which had become redundant. Cabinet also approved the doubling of a vital railway line connecting Guwahati with New Bongaigaon at a cost of 2,042 crore rupees.

The project will be completed by 2022-23 and will be executed by the construction organisation of the Northeast Frontier Railway. It also cleared seven amendments to the insolvency law that seeks to put in place a 330-day deadline for the corporate resolution process.

Experts said the changes would help in clearing various roadblocks for resolution process and smoothen the process as well as save time.