The State Cabinet here on Tuesday decided to dissolve MAP IT with a view to facilitate work and transfer all the assets and liabilities (MPSEDC) of the company.
MPSEDC will implement e-governance / information technology projects, for development of infrastructure and to attract IT investment in the state and responsibilities will be discharged in the state more deftly and efficiently. Along with the projects of MAP IT, the sanctioned posts will be transferred to MPSEDC.
As per the order issued by the Ministry of Finance, Government of India, the Council of Ministers reduced the performance guarantee amount from 5 percent to 3 percent in all construction contracts to be executed by December 31, 2021 from the date of issue of the order under the Public Works Department. The process of receipt / withdrawal of this fund will remain the same as before. No amount will be refunded in the previously executed contracts and after December 31, 2021, no additional amount will be taken from the contracts who will receive benefits as a result of this order.
The department has been authorized till December 31, 2021 to implement this exemption / relief in the execution of new contracts of other departments of the state as on date. With this decision, more money will be available with the private sector for construction works in the state, which will speed up the works. With this decision in the Public Works Department, financial liquidity of Rs 150 crore is likely to be available to the private sector.
The Cabinet has, approved the orders given by the Chief Minister and the action taken accordingly from time to time with respect to the conditions of the scheme of giving short term agriculture loans to farmers at zero percent interest rate by the Primary Agricultural Credit Cooperative Societies and extension of due date related to cooperative banks for the year 2019-20.
The Cabinet decided to provide a loan of Rs 15 crore to MPCDF to overcome the problem of working capital of Dugdha Sanghs in the state from the Madhya Pradesh Price Stabilization Fund. On this, the entire loan amount along with interest as per interest payable by the Dugdha Sanghs / MPCDF at the rate of 3.5 percent per annum, will be returned to the M.P Price Stabilisation Fund till March 31, 2021.