The Union Cabinet today approved the draft Convergence Bill 2001 which envisages creation of a super regulator called the Communications Commission of India (CCI) empowered to regulate carriage and licensing of communication services. The Cabinet has also approved the recommendation of the group on telecom and information technology (GOTIT) to create a separate content bureau under the CCI to regulate the content.
The Cabinet also approved amendments to the Indian Port Trusts Act and Indian Ports Act to enable corporatisation of the 12 major ports in the country. It also cleared the Alagh committee's proposal to permit multi-state cooperatives to register themselves under the Companies Act, 1956. This will allow these cooperatives to tap capital markets to raise funds.