The Centre today approved a package to revive the Ranchi-based public sector firm Heavy Engineering Corporation (HEC). The package includes a loan of Rs 60 crore at normal rate of interest, wage revision, enhancing the retirement age to 60 years and waiver of interest and penal interest to the tune of Rs 38 crore.
The state-run company had been in the red for a long time but started earning profits from 2006-07.
The government also decided to open 20 more Jawahar Navodaya Vidyalayas in the current fiscal (2008-09) to cater to Scheduled Caste and Scheduled Tribe students. The Cabinet Committee on Economic Affairs (CCEA) approved the setting up of 10 schools each in districts with large concentration of SCs and STs at an estimated cost of nearly Rs 432 crore, said an official spokesperson.
