The cabinet on Tuesday approved the government’s proposal to provide its over four lakh employees with vehicle loans through Central Bank of India.
The finance department had presented the proposal.
“According to the proposal, the vehicle loans would be made available through Central Bank of India. It would benefit over four lakh government employees,” Ravikant, the principal secretary of the cabinet coordination department, told reporters after the cabinet meeting:
The vehicle loan would be given to the employees in addition to the one they receive from the state government already.
Although Ravikant refused to divulge details of the new vehicle loan, he said the terms and conditions for the loan would be the same as that of home loan.
The state government had earlier signed a memorandum of understanding with the Central Bank of India to provide housing loans up to Rs 30 lakh at base rates — the lowest rate of interest on loan offered by any bank in the country.
The cabinet, during its Tuesday’s meeting, also approved a proposal of M/s Erisson Power Ltd, Calcutta, for setting up a coal-based 1,320MW thermal power plant at Prabhawati Nagar in Banka, said Ravikant.
Under this proposal, two units of 660MW would be set up at the plant for an estimated cost of Rs 7,260 crore.
A proposal from the agriculture department to construct a combined building for a farm in the next three years at Mithapur was also passed. A sum of Rs 105.65 crore would be spent to modernise and construct training centre and residential complex, among other facilities, at the farm.
While the cabinet approved Rs 1.94 crore from the contingency fund to complete Rajendra Mandap, a hall at Raj Bhavan, in the current fiscal, needs of institutions were also met.
The cabinet sanctioned Rs 40 crore to pay salaries of teaching and non-teaching employees of non-government recognised 531 Sanskrit schools in the current fiscal and another Rs 1.13 crore as establishment cost for AN Sinha Institute of Social Studies, also to be spent in the current financial year, said Ravikant.