New Delhi, Sept 9: The Union cabinet on Wednesday approved release of an additional installment of dearness allowance to central government employees and pensioners from July 1 this year. The decision involves an annual expenditure of Rs 1,500 crore.The Cabinet also approved the proposal of the Railways for creating a new zone at Bilaspur in Madhya Pradesh which will cover the divisions of Bilaspur and Raipur. Both the divisions have very heavy freight traffic.
The cabinet also approved the proposal for retrenchment of 218 workers of the Delhi Vanaspati Unit, a unit of the public sector Hindustan Oils Corporation Limited (HVOC), which is lying closed since November 30,1996.
The proposal also provides for payment of compensation in pursuance of the Supreme Court's judgement in MC Mehta vs Union of India case and mortgage followed by sale of land of the Delhi Vanaspati Unit at Subzi Mandi after surrendering 57 per cent to the DDA as per the judgement.
The cabinet also approved structural reorganisation of Indian Vaccines Corporation Limited (IVCOL) which will now be renamed as Biotechnology Research and Development Company Ltd (BRDC).
The reorganisation is aimed at optimum utilisation of assets created under the IVCOL project, to establish National Brain Research Centre, Biotechnology Park and other new activities and projects for research and application of biotechnology to benefit scientists and the society.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.