The Assam government will establish an investment holding company to invest in and manage oil, gas, and fertiliser companies.
In a meeting, the state cabinet resolved to take advantage of specific investments in the oil and gas sector. According to an official announcement, "Cabinet decided to establish an investment holding company to hold and manage the portfolio of investments in oil, gas, fertiliser, and other companies." The desicion will boost growth in the vital energy industry and contribute to the income implementation of a Rs 8,727.08 crore Revamped Distribution Sector Scheme (RDSS) in Assam.
The RDSS will include, among other things, the construction of a high-voltage distribution system, aerial bunched cables, new substations and lines, feeder bifurcation, and line reconstruction. In addition, the cabinet approved a payment of Rs 137 crore to the Assam Power Distribution Company Ltd for rate subsidies (APDCL).
The government also waived interest on loans to the Assam Power Generation Corp Ltd (APGCL) and the Assam Electricity Grid Corp Ltd totalling Rs 1,097 crore (AEGCL). The cabinet decided to convert government loans and grants to AEGCL and APGCL into equity and waive loan interests in order to make the power utility firms profitable.
It stated that these two state-run firms will receive Rs 1,286 crore in loans and Rs 3,280 crore in grants. The state cabinet also approved Rs 130.64 crore in interest subsidies for state government employees who want to develop residences under the Apon Ghar plan.
In addition, the cabinet approved a one-time terminal reward for Anganwadi workers when they reach the age of 60, in honour of their contributions to women's and children's welfare. The Assam cabinet authorised a 2% reservation in Grade-III and IV posts for ex-servicemen in honour of their commitment to the nation.
The disabled ex-servicemen and families of deceased soldiers will receive 25% of this reservation, while the remaining 75% will be kept for all other ex-servicemen.
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