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7 Measures took by government for boosting the growth in economy

  1. The Cabinet cleared a 6% hike in dearness allowance for central government employees, which will be effective from July 1
  2. The Cabinet cleared gold Monetization scheme to reduce the metal’s demand in physical form and fish out idle gold lying with households and other entities.
  3. The Cabinet cleared sovereign gold bond scheme to cut demand for physical gold and help maintain India’s CAD within sustainable limits
  4. The Cabinet approved spectrum trading in all bands, which will increase efficient use of radiowaves by enabling telecom operators, who have a low subscriber base or unutilised spectrum lying with them, to trade in radiowaves
  5. Centre will bolster offshore wind energy plans and also carry out allocation of offshore wind energy blocks, coordination and allied functions with related ministries and agencies.
  6. The Cabinet okayed FDI, of up to 100 per cent, under the automatic route, in the activity of White Label ATM (WLA) Operations
  7. Cabinet dropped plans to reconvene a session of Parliament to secure approval of a common goods and services tax (GST) because of political obstruction.

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