Cabinet meeting: From coronavirus screening at 21 airports to PSU banks merger, here are highlights
New Delhi, Mar 04: Prime Minister Narendra Modi on Wednesday chaired a Cabinet meeting in which several proposals were made for the development of India.
After the meeting, Union Ministers Prakash Javadekar and Nirmala Sitharaman briefed the media about the meeting.
Here are the key highlights of the meeting:
- NRIs who are Indian nationals will get permission to invest 100% in Air India. It will pave the way for fresh investments
- Screening going on at 21 airports for coronavirus. In the last 10 months, more than 6 lakh passengers have been screened
- India is going to start 19 new coronavirus testing labs
- Prime Minister Narendra Modi is personally monitoring the situation in the wake of coronavirus.
- 72 changes in 65 sections in the Companies Act which was passed in 2013 suggested
- Govt's priority is to decriminalise the Companies Act. The quantum of penalty will be reduced.
- Exemption to companies with obligation to spend ₹50 lakh or less under the CSR from the requirement of having a CSR committee
- After amalgamation, there will be 12 PSU banks only
- Bank mergers will not affect operations of the banks
- Cabinet has approved the Companies (Second Amendment) Bill, 2019. The bill removes criminality under the Act. "This Bill furthers ease of living for law-abiding corporates and de-clogs the criminal justice system in the country