Maha: Share capital of Maulana Azad corporation increased

The Maharashtra cabinet on Thursday gave nod to an increase in the limit of share capital of the Maulana Azad Minority Economic Development Corporation by Rs 200 crore.The present limit of Rs 500 crore will be increased to Rs 700 crore, an official said.The decision was taken at the cabinet meeting chaired by Chief Minister Uddhav Thackeray.The decision was in accordance with an announcement made in Budget 2021, said a statement from the Chief Ministers Office.The additional amount of Rs 200 crore will be made available in instalments, it added.The cabinet also hiked the grant for sports complexes.


PTI | Mumbai | Updated: 20-01-2022 23:39 IST | Created: 20-01-2022 23:38 IST
Maha: Share capital of Maulana Azad corporation increased
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The Maharashtra cabinet on Thursday gave nod to an increase in the limit of share capital of the Maulana Azad Minority Economic Development Corporation by Rs 200 crore.

The present limit of Rs 500 crore will be increased to Rs 700 crore, an official said.

The decision was taken at the cabinet meeting chaired by Chief Minister Uddhav Thackeray.

The decision was in accordance with an announcement made in Budget 2021, said a statement from the Chief Minister's Office.

The additional amount of Rs 200 crore will be made available in instalments, it added.

The cabinet also hiked the grant for sports complexes. Divisional sports complexes will get Rs 50 crore in grant instead of Rs 24 crore. District sports complexes will get Rs 25 crore instead of Rs 8 crore while taluka sports complexes will get Rs 5 crore instead of one crore.

The sports complexes which have got administrative approval but the construction of which is yet to start will benefit, the statement said.

The cabinet on Thursday also approved the new sand mining policy, under which mining period has been extended to five years.

Final tender limit for irrigation projects already approved by the cabinet was revised upwards from Rs 114 crore to Rs 624 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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