In a significant decision, the Cabinet on Thursday initiated the process to change the name of the state "Uttaranchal" to "Uttarakhand", meeting the long pending demand of the state government.
"The Uttaranchal (Alternation of Name) Bill, 2006 will be submitted to the President for referring it to the state legislature of Uttaranchal for expressing its views," said an official statement.
After receiving views of the state assembly, the bill will be introduced in the Parliament.
The Cabinet also cleared a proposal to set up of a Special Purpose Vehicle (SPV) under the Railways ministry for execution of dedicated freight corridor projects.
In another decision, it approved the enactment of a central legislation to declare Kakinada-Pondicherry stretch of canals in the states of Andhra Pradesh, Tamil Nadu and union territory of Pondicherry as a national waterway.
The Cabinet also decided to amend the State Bank of India Act, 1955 so that it can have better access to the capital market for raising funds. This will enable the bank to attract a larger number of small investors.