7 Measures took by government for boosting the growth in economy
- The Cabinet cleared a 6% hike in dearness allowance for central government employees, which will be effective from July 1
- The Cabinet cleared gold Monetization scheme to reduce the metal’s demand in physical form and fish out idle gold lying with households and other entities.
- The Cabinet cleared sovereign gold bond scheme to cut demand for physical gold and help maintain India’s CAD within sustainable limits
- The Cabinet approved spectrum trading in all bands, which will increase efficient use of radiowaves by enabling telecom operators, who have a low subscriber base or unutilised spectrum lying with them, to trade in radiowaves
- Centre will bolster offshore wind energy plans and also carry out allocation of offshore wind energy blocks, coordination and allied functions with related ministries and agencies.
- The Cabinet okayed FDI, of up to 100 per cent, under the automatic route, in the activity of White Label ATM (WLA) Operations
- Cabinet dropped plans to reconvene a session of Parliament to secure approval of a common goods and services tax (GST) because of political obstruction.