The central government has cleared a new mechanism to hasten the metro building network across the country and the Cabinet Committee of Economic Affairs (CCEA) also gave its go ahead simultaneously to the new policy for metro and rail transportation whereby the future projects are to be tendered while keeping in mind their social and economic impact, not only the estimated financial return. A decision wherein the government focused on PPP model was also taken to extend tax benefits for industrial units in the northeast states and hilly areas. It also cleared the way for the National Bank for Agriculture and Rural Development (Nabard) to issue bonds worth Rs.9,020 crore of extra budgetary resources to fund irrigation projects. A committee of ministers is to speed up the process of privatization. Dubbed an alternative mechanism, it would comprise Finance Minister Arun Jaitley, Transport Minister Nitin Gadkari, and the minister of the administrative department under which a company has been earmarked for strategic sale, to decide future course of action.
