In a bid to boost regional air connectivity, the Cabinet Committee on Economic Affairs (CCEA) has approved the revival of 50 unserved or underserved airports at a cost of Rs 4,500 crore over a period of three years starting FY-18. Separately, in a meeting on Monday evening, the union cabinet approved India’s accession to the Customs Convention on International Transport of Goods under cover of TIR Carnets (TIR Convention), paving the way for faster movement of goods across borders.
The Union cabinet also gave expost facto approval for agreement between Indian Strategic Petroleum Reserve Ltd and Abu Dhabi National Oil Company of the UAE for 0.81MMT or 5,860,000 million barrels of crude oil at a storage facility in Mangalore in Karnataka.
Read more: The Economic Times
