Cabinet Committee on Economic Affairs
The major function of the Cabinet Committee on Economic Affairs (CCEA) is to review economic trends on a continuous basis, as also the problems and prospects, with a view to evolving a consistent and integrated economic policy framework for the country. It also directs and coordinates all policies and activities in the economic field including foreign investment that require policy decisions at the highest level. The Cabinet Committee on Economic Affairs (CCEA) has been constituted with the Prime Minister, Dr Manmohan Singh, as Chairman. Some of the members of the Committee are Minister of Defence ,Minister of Agriculture, Food & Civil Supplies, Consumer Affairs & Public Distribution. Minister of Railways ,Minister of Chemicals and Fertilizers, Minister of Finance , Minister of Road Transport & Highways Shipping ,Minister of Commerce & Industry, Minister of Power, Minister of Rural development , Minister of Communications & IT.
Recent decisions by CCEA:
- On June 16,2012 the CCEA has approved the proposal of Ministry of Social Justice and Empowerment headed by Mukul Wasnik, to introduce a new centrally sponsored scheme of Pre-Matric Scholarship Scheme for students belonging to Scheduled Castes in class nine and ten with effect from July 1 this year. The scheme is expected to benefit about 42 lakh SC students. The overall literacy rate, as per 2001 census, is 64.8 per cent and for the Scheduled Caste it is 54.7 per cent.
- The CCEA on June 14 ,2012 approved extension of the duration of the Crime and Criminal Tracking Network & Systems (CCTNS) project, scheduled to end on March 31, by another three years up to March 31, 2015.
- The CCEA also decided to permit release of unutilized funds beyond March 2015 to States/ Union Territores (UTs) and if it becomes necessary, then the Ministry of Home Affairs shall be competent to make the fund releases with the approval of Home Secretary/Home Minister without seeking formal extension up to a period of one year i.e. up to March 2016.
- The CCEA on 13 December 2011 approved national electricity fund to provide subsidy of 8466 crore rupees for projects of electricity distribution sector for a period of 14 years. The objective is to improve the distribution network for areas not covered by Rajiv Gandhi Gramin Vidyutikaran Yojna (RGGVY) and Restructured Accelerated Power Development and Reforms Programme (R-APDRP) project areas.
- On July 5,2007 the CCEA gave its approval for continuation of the National Mission on Bamboo Applications till November, 2009 in the Eleventh Plan, with in the approved outlay of Rs.100 crore. The scheme was approved by the CCEA in November 2004, with an outlay of Rs.100 crore.the CCEA has also gave its approval to the modifications to the Special Package for Livestock and Fisheries in the 31 identified suicide-prone districts suggested by the beneficiary.
The Cabinet Committee on Economic Affairs (CCEA) approved Rs 2,500 crore in additional funds to banks to give two per cent interest subvention on rupee credit to the exporters engaged in handicrafts, handlooms, carpets and small & medium enterprises .