Modi’s cabinet announced six key financial proposals on Wednesday ranging from allowing telecom companies to trade spectrum to a hike in central government pay.
The six proposals cleared by the government include:
- Spectrum trading in all bands in order to boost availability of frequencies to cellular companies that will then improve connectivity. This will also address the issue of call drops.
- Gold Bond and gold Monetization schemes to reduce the demand for gold in physical form, and uncover dormant gold from households, and other areas. The Gold Bond scheme will have an annual cut-off of 500 grams per person and would be issued for 5-7 years.
- An approval for offshore wind farms.
- 100 per cent FDI under automatic route in white-labelled ATMs
- To accelerate international trade, Rs 800 crore capital will be infused in Export Important Bank of India.