HP approves development policy for Rs 800 crore WB loan

Shimla, Jul 11 (UNI) The Himachal Pradesh Cabinet today approved development policy for the procurement of Rs 800 crore (200 million US dollars) World Bank loan for carrying out various developmental activities in the state, official sources said.

The Cabinet, which met under the chairmanship of state Chief Minister Virbhadra Singh, while approving the loan said 90 per cent would be out right grant and the remaining 10 per cent would be through the Centre.

The sources said the Himachal government has already received Rs 900 crore loan from the World Bank for road development.

It approved group personal accident insurance scheme for regular, ad hoc, contractual, part time and daily waged employees of government departments, boards, corporations, universities and autonomous bodies on compulsory basis covering 2.75 lakh employees, they said.

The meeting also approved carton subsidy at the rate of Rs two per carton subject to a maximum limit of 2,400 cartons with 1,200 carton boxes for the small farmers having 10 bigha or less land.

The sources said the rate of Agro India Packaging Limited (AIPL) carton boxes had been fixed at Rs 34.50 per carton besides nominating HPMC, HIMFED, AP Agro Industries Corporation and KINFED for supplying of cartons.

A target to manufacture 5.60 lakh cartons has been fixed for Agro India Packaging Limited for the current season, they said.

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