New Delhi: The Union cabinet on Thursday approved the continuance of President’s rule in Jharkhand.
Addressing the media, information and broadcasting minister Ambika Soni said the decision was taken after the Jharkhand governor Syed Sibtey Razi had submitted a report in June in which he informed the government that despite five months of imposition of President’s rule in the state, the political impasse there had not been broken.
The governor had also recommended extension of President’s rule in the state. This would be placed before the Parliament in the budget session, the minister added.
The cabinet also approved India’s contribution of $239 million (around Rs1,142 crore) towards a proposed South Asian University. India’s contribution would amount to 79% of the total cost for establishing the university and bearing expenses until 2014.
The cabinet has also approved setting aside 100 acres of land in Delhi next to the Indira Gandhi Open University for the purpose.
Meanwhile, the cabinet also approved the reintroduction of the Companies Bill, 2008 as Companies Bill, 2009. The Bill is expected to make the process of doing business easier and also strengthen penalty systems.
A ministry press release said that the provisions of the Companies Bill, 2008, are broadly considered to be suitable for addressing various contemporary issues relating to corporate governance.
The cabinet also approved withdrawal of the Constitution (61st amendment ) Bill proposing transfer of the subject from the State List to the Concurrent List of the Constitution of India.