Official sources said here that the state cabinet, at today's weekly meeting, approved the quantum of compensation.
Chief Minister Prithivraj Chavan told the cabinet that of the 176 houses in the village, 47 were destroyed in the mudslide which was triggered by heavy rains.
The village would be rehabilitated by the government, Chavan said, adding that the local administration and jawans of National Disaster Response Force (NDRF) had worked tirelessly during the ongoing rescue operations.
A special officer of the rank of additional district collector will be appointed to monitor and implement the rehabilitation package.
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Those injured in the tragedy would be given Rs two lakh each for medical treatment.
Chavan also said that the tribal welfare department would help mobile companies to erect mobile towers in remote and tribal villages. A survey would be conducted in villages where Malin like disasters could happen, and such villages would be relocated.