ECONOMY BYTES

MPLAD funds hiked from Rs 2 crore to Rs 5 crore :Cabinet also cleared a massive hike of Rs 3 crore in the annual allocation for a scheme that enables every MP to recommend development works in their constituencies. A hike of Rs 3 crore in the annual allocation for a scheme that enables every MP to recommend development works in their constituencies, was also approved by the Cabinet. The move would cost the exchequer an additional Rs 2,370 crore annually.

 Phase III expansion will extend FM radio services to around 227 new cities with a population of over one lakh. According to the new policy, radio operators have been permitted to carry news bulletins of the All India Radio.
 The govt is expecting to raise about Rs 1,733 crore from auctions. It has taken the e-auction route to auction the channels to maintain transparency
 The Cabinet also approved increase in the FDI and FII limit in private FM radio broadcasting company to 26 per cent from the present 20%.