Cabinet Committee on Economic Affairs Current Affairs - 2020

Centre reconstitutes 8 key Cabinet Committees

Prime Minister Narendra Modi led NDA government which stormed back into power for a second term at Centre after recently concluded 17th Lok Sabha eletion, reconstituted eight key cabinet committees. He also reconstituted six previous Cabinet sub-committees and formed two new ones to deal with job creation and economic growth.

Key Highlights

In newly-constituted eight cabinet committees, Home Minister Amit Shah is part of all cabinet committees while P M Modi is part of six committees, excluding Cabinet Committee on Accommodation and Cabinet Committee on Parliamentary Affairs.

The eight committees reconstituted includes-

  1. Appointments Committee of Cabinet– includes P M Modi and Amit Shah.
  2. Cabinet Committee on Accommodation– includes Amit Shah, Nitin Gadkari (Minister of Road Transport and Highways), Nirmala Sitharaman (Finance Minister and Minister of Corporate Affairs), and Piyush Goyal (Railway Minister and Mniister of Commerce & Industry).

Special invitees to Cabinet Committee on Accommodation– includes Jitendra Singh, Minister of State in Prime Minister’s Office (PMO) and Hardeep Singh Puri, Minister of State (I/C) of the Ministry of Housing and Urban Affairs.

  1. Cabinet Committee on Economic Affairs – includes PM Modi (as chairman) and other member are Amit Shah, Nitin Gadkari, Nirmala Sitharaman, Piyush Goyal, Rajnath Singh (Defence Minister), Ravi Shankar Prasad (Minister of Communications and Information Technology), Harsimrat Kaur Badal (Minister of Food Processing Industries), D.V.Sadananda Gowda (Minister of Chemicals and Fertilizers), Narendra Singh Tomar (Minister of Agriculture and Farmer Welfare), Dr. Subrahamanayam Jaishankar (Minister of External Affairs), and Dharmendra Pradhan (Petroleum, Natural Gas Minister).
  2. Cabinet Committee on Parliamentary Affairs- includes Shah, Sitharaman, Tomar, RS Prasad, Ramvilas Paswan (Consumer Affairs Minister), Thawar Chand Gehlot (Minister of Social Justice and Empowerment), Prakash Javadekar (Environment Minister) and Prahlad Joshi (Minister of Parliamentary Affairs).

Special invitees to Cabinet Committee on Parliamentary Affairs­– includes Ministers of State (MoS) Parliamentary Affairs Arjun Ram Meghwal and V Muraleedharan.

  1. Cabinet Committee on Political Affairs– includes P M Modi, Amit Shah, Nitin Gadkari, Sitharaman, Ramvilas Paswan, Narendra Singh Tomar, RS Prasad, Harsimrat Kaur, Piyush Goyal, Harsh Vardhan (Health Minister), Arvind Ganpat Sawant (Heavy Industries and Public Enterprise Minister) and Prahlad Joshi.
  2. Cabinet Committee on Security– It is considered to be the most significant panel, includes the Prime Minister Modi, Rajnath, Shah, Sitharaman and Jaishankar.
  3. Cabinet Committee on Investment Growth– P M Modi, Amit Shah, Nitin Gadkari, Nirmala Sitharaman and Piyush Goyal.
  4. Cabinet Committee on Employment and Skill Development– includes P M Modi, Amit Shah, Nirmala Sitharaman, Piyush Goyal, Narendra Singh Tomar, Ramesh Pokhriyal ‘Nishank’ (HRD Minister), Dharmendra Pradhan, Dr. Mahendra Nath Pandey (Minister of Skill development and Entrepreneurship), Santosh Kumar Gangwar (Minister of State (I/C) Labour and Employment) and Hardeep Singh Puri.

Special invitees to Cabinet Committee on Employment and Skill Development– includes Union Ministers Nitin Gadkari, Prahlad Singh Patel, Smriti Zubin Irani, and Harsimrat Kaur Badal.

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NHPC to acquire Lanco Teesta Hydro Power Ltd (LTHPL)

The Cabinet Committee on Economic Affairs (CCEA) has approved the acquisition of debt-laden Lanco’s 500 MW Teesta hydro-electric power project in Sikkim by state-owned NHPC.

Taking over of Lanco Teesta Hydro Power Ltd

  • NHPC will take over debt-laden Lanco’s 500 MW Teesta hydro-electric power project for Rs 907 crore in Sikkim.
  • CCEA has sanctioned the funds for the acquisition and execution of balance work of the Teesta Stage-Vl Hydro Electric Project by the NHPC Ltd.
  • The total cost of the project would be Rs 5,748.04 crore (at July 2018 price level), which includes a bid amount of Rs 907 crore for acquisition and estimated cost of balance work of Rs 3,863.95 crore, which includes Interest During Construction (IDC) and Foreign Component (FC) of Rs 977.09 crore

Teesta Stage-Vl Hydro Electric Project

  • Teesta Stage-Vl Hydro Electric Project is a Run of River (RoR) project in Sirwani Village of Sikkim to utilize the power potential of Teesta River Basin in a cascade manner.
  • The project involves the construction of a 26.5-metre high barrage across river Teesta.
  • The estimated power generation is 2,400 million units of electricity in a 90 per cent dependable year with an installed capacity of 500 MW (4x125MW).

NHPC

NHPC Limited, formerly known as National Hydroelectric Power Corp. was incorporated as Central Govt. Enterprise for development of Hydro Power in Central Sector on 7th November 1975. Over the years NHPC has evolved as the largest central utility for hydropower development in India. NHPC is mandated to plan, promote and organize an integrated and efficient development of power in all aspects through Conventional and Non Conventional Sources in India and abroad.

NHPC which is a premier organization in the country for the development of hydropower has an authorised capital of about Rs.15,000 crores and has a Miniratna status.

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