CCEA Current Affairs

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CCEA approves setting up of Eklavya Model Residential Schools

The Cabinet Committee on Economic Affairs (CCEA) has given its approval for the revamped Eklavya Model Residential Schools (EMRSs) scheme. Under this, Eklavya Model Residential Schools (EMRSs) will be set up in every block where Scheduled Tribes population is more than 50% and has at least 20,000 tribal persons.

A budget of Rs. 2,242 crore during 2018-19 and 2019-20 has been approved by the Cabinet Committee on Economic Affairs (CCEA) for rolling out this scheme.

The EMRSs will be run by an Autonomous Society, on the lines of  Navodaya Vidyalaya Samiti. This society will be under the Ministry of Tribal Affairs.

462 new Eklavya Model Residential Schools (EMRSs) will be set up as 102 EMRSs are already running in the country.The new scheme aims to improve the construction quality and provide better facilities for the students. For this,  the support of construction cost of EMRS has been enhanced from the current Rs. 12 crore to Rs. 20 crore.

About Eklavya Model Residential Schools:

  • Ekalavya Model Residential School (EMRS) is a central government scheme for setting up of model residential schools for Scheduled Tribes all over India.
  • The Union Ministry of Tribal Affairs runs the EMRS scheme in the country.

The EMRS scheme has an objective to increase the literacy level among the Tribals of India by imparting quality education to children of Scheduled Tribes.

Month: Categories: India Current Affairs 2018

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CCEA approves strategic sale of Rural Electrification Corporation

Cabinet Committee on Economic Affairs (CCEA) has given its in principle approval for strategic sale of Central Government’s existing 52.63% of total paid up equity shareholding in Rural Electrification Corporation (REC) to Power Finance Corporation (PFC) along with transfer of management control. Both REC and PFC are Central Public Sector Enterprises under the Ministry of Power.

Significance

The acquisition intends to achieve integration across Power Chain, create economies of scale, obtain better synergies and have enhanced capability to support energy access and energy efficiency by improved capability to finance power sector.  It may also allow for cheaper fund raising with increase in bargaining power for combined entity.

Rural Electrification Corporation (REC)

It is public Infrastructure finance company in India’s power sector. It finances and promotes rural electrification projects across India. It provides loans to Central/ State Sector Power Utilities, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers. It was founded in July 1969 and is headquartered in New Delhi.

Month: Categories: India Current Affairs 2018

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