The Cabinet Committee on Economic Affairs (CCEA) , which met here on Monday, approved the ₹4,500-crore project to revive 50 unserved and under-served airports, and air strips.
These belong to various State governments, Airports Authority of India and civil enclaves and will be revived in the next three years starting from 2017-18, an official release said.
“Fifteen airports/airstrips each would be revived during 2017-18 and 2018-19 each while 20 airports/airstrips would be revived during 2019-20,” an official statement said.
The Cabinet also gave ex-post facto approval for settlement of Legacy Food Cash Credit Accounts (up to crop season 2014-15) of Punjab Government for food procurement operations.
Under this, the outstanding amount in Cash Credit Accounts of the Punjab government pertaining to season up to Kharif Marketing Season 2014-15 of about ₹31,000 crore shall be converted into a term loan, the release added.
Customs ConventionTo ease trade, the Cabinet gave its approval for India’s accession to the Customs Convention on International Transport of Goods under cover of TIR Carnets (TIR Convention) and for completion of necessary procedures for ratification, for its entry into force.
Pact on oil storageThe Cabinet has also given ex-post facto approval for signing of the definitive agreement on Oil Storage and Management between Indian Strategic Petroleum Reserve Ltd and Abu Dhabi National Oil Company of UAE.
The Cabinet also gave its nod for revised cost estimates of the Koteshwar Hyder Electric Project in Uttarakahand at an estimated cost of ₹2,717 crore.