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Cabinet nod for decision on Abu Salem

By Our New Delhi Bureau

NEW DELHI JAN. 9. The Union Cabinet today gave its post facto approval for the Government's decision to give a sovereign assurance to Portugal that the Mumbai blast accused, Abu Salem, and his accomplice, Monica Bedi, would not be given death or life sentence beyond 25 years if they were deported to India.

Fraud investigation office

The Union Cabinet today decided to implement the suggestion of the Naresh Chandra Committee report on corporate governance to set up a Serious Fraud Investigation Office (SFIO) in the Department of Company Affairs (DCA), Ministry of Finance.

As per the decision, the SFIO will be a multi-disciplinary unit capable of investigating corporate white collar crimes but will not undertake prosecution activities. While it has been made clear that the SFIO will investigate only corporate frauds, the prosecutions for violations under the Companies Act, 1956, will be undertaken by the DCA.

The Cabinet also authorised the Union Finance Minister, Jaswant Singh, to hold further consultations with States on the compensation package for them with the implementation of Value Added Tax (VAT) from April 1 next year. While the Centre had agreed to 50 per cent compensation for the first three years for loss of revenue arising out of the implementation of VAT, the States have demanded 100 per cent compensation in the first year, 75 per cent in the second and 50 per cent in the third.

Honorarium increased

Accepting a long standing demand of Anganwadi workers under the Integrated Child Development Programme (ICDP), the Centre decided to raise their honorarium by Rs. 500 a month.

The Union Cabinet decided to increase the honorarium of Anganwadi helpers by Rs. 260 a month. The increases would be with retrospective effect from April 1, 2002.

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