Union Cabinet approves de-merger of Nagarnar Steel Plant from NMDC Ltd

New Delhi, Oct 14: The Union Cabinet has approved the de-merger of the Nagarnar Steel Plant from the National Minerals Development Corporation Ltd and strategic disinvestment of the de-merged company by selling entire Government of India stake in it to a strategic buyer.

The Cabinet also approved the World Bank Supported Strengthening Teaching Learning and Results (STARS) project. The total project cost is Rs 5,718 crore with the financial support of the World Bank amounting to 500 million USD.

STARS project would be implemented as a new Centrally Sponsored Scheme under Department of School Education and Literacy, Ministry of Education; it covers 6 States namely Himachal Pradesh, Rajasthan, Maharashtra, Madhya Pradesh, Kerala and Odisha.

The project seeks to support States in developing, implementing, evaluating and improving interventions with direct linkages to improved education outcomes and school to work transition strategies for improved labor market outcomes.

The Cabinet also approved a special package worth Rs 520 crore for Jammu and Kashmir and Ladakh under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission.

This will ensure sufficient funds under the mission, as per need to the UTs and is also in line with Government of India's aim to universalise all centrally sponsored beneficiary-oriented schemes in the UTs of J&K and Ladakh in a time bound manner.

Further the Cabinet also approved the modification of 'ADNOC Model' for enhancing commercial viability of the existing Strategic Petroleum Reserves of Indian Strategic Petroleum Reserve Ltd.Union Cabinet approves STARS project at cost of Rs 5,718 crore.