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Last Updated : Oct 14, 2020 05:10 PM IST | Source: Moneycontrol.com

Cabinet Meeting Briefing: Demerger of NMDC and Nagarnar Steel Plant gets in-principle approval

The Cabinet also announced a new programme called STARS to help improve the National Education Policy

Union Minister Prakash Javadekar
Union Minister Prakash Javadekar
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The Union Cabinet has given in-principle approval for the demerger of the National Mineral Development Corporation (NMDC) and the Nagarnar Steel Plant in Chattisgarh.

The steel plant has a capacity of 3 million tonnes per annum and is nearly 90 percent complete. It will be registered as a separate company, Union Minister Prakash Javadekar said in a press briefing on October 14.

The demerger will be completed by April and disinvestment will be done by September 2021. The interests of 30 percent minority stakeholders will be protected, said Javadekar.


India has started implementing the new education policy, and a new programme called Strengthening Teaching-learning and Results for States (STARS) has been announced to help improve it.  This will impact the very processes of education, the minister said.

The Central government along with the World Bank will come together to enforce STARS. According to the minister, the World Bank will give Rs 3,700 crore for this programme and Rs 2,000 crore will come from states.

"This is an important milestone in the implementation of the National Education Policy," he said.

The Cabinet has also approved an MoA between the Ministry of Jal Shakti and Australia for collaboration in capacity building, research and development, and making impact for sustainable ground water management.

The Cabinet has also given post-facto approval for allocation of Rs 3,874 crore to the Petroleum Ministry to purchase oil at a cheap rate from overseas.
First Published on Oct 14, 2020 04:32 pm