Govt approves Rs 352 crore for VRS to ITI Ltd

New Delhi, May 17 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today approved financial assistance of Rs 352 crore to ITI Ltd for meeting the requirement of payment of statutory dues and grant towards voluntary retirement scheme (VRS).

A sum of Rs 25 crore will be provided as interest free loan simultaneously writing it off from the government account, Finance Minister P Chidambaram told reporters after the meeting presided over by Prime Minister Manmohan Singh.

UNI