Union cabinet Crucial decisions

New Delhi Nov 22: The Union cabinet under the leadership of PM Modi has taken some crucial decisions. Union Finance Minister Arun Jaitley has briefed the media about the decisions.

# Wage Revision of employees of CPSE:

The cabinet has approved the policy of wage negotiations of CPSES and under this policy, the top management can decide the wages of their employees.Currently, there are 320 CPSE and 9.35 lakh unionized employees and non-unionised employees and the union can negotiate there wage revisions with the top management.

# Indias membership of EBRD

The cabinet has given a nod for the membership of India in European Bank for Reconstruction and Development (EBRD).Earlier India was not a member of this institute and the country has decided to join the multilateral institute. India would buy 100 shares and the finance minister would be authorized to decide whether the country needs more shares.

# Extension of IICA support

Jaitley has said that "Indian Institute of Corporate Affairs was set up in 2007-08 and it was expected that the institute would become Autonomous and self-sufficient by 2017.However, there are some deficient in earnings of Rs 18 cr so we have decided to extend the financial support till 2019-20."