New Delhi, Feb 14 The Union Cabinet has approved projects worth Rs 1,60,504 crore at its final meeting in the South Block before passing a resolution to shift its functioning to the Seva Teerth complex, Union Railways and Electronics and IT Minister, Ashwini Vaishnaw, said on Saturday.
Prime Minister Narendra Modi on Friday unveiled the new complex named ‘Seva Teerth’, which houses the Prime Minister’s Office (PMO), National Security Council Secretariat (NSCS) and the Cabinet Secretariat.
At its final session in South Block, the Cabinet cleared major decisions spanning railways, national highways, metro expansion, urban reforms and startup funding.
Marking a paradigm shift in the urban development approach, the government approved the launch of the Urban Challenge Fund (UCF) with central assistance of Rs 1 lakh crore. The central assistance will cover 25 per cent of the project cost, subject to raising minimum 50 per cent of the project cost from market.
The Cabinet approved three multi-tracking projects, covering 12 districts across Delhi, Haryana, Maharashtra and Karnataka, with a total cost of Rs 18,509 crore. This will increase the existing network of Indian Railways by about 389 kms.
In a major push to India’s fast-growing startup ecosystem, the Union Cabinet chaired by Prime Minister Narendra Modi has approved the setting up of the Startup India Fund of Funds 2.0 with a total corpus of Rs 10,000 crore. The new fund aims to mobilise long-term domestic capital and provide stronger financial backing to startups across the country.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved the rehabilitation and upgradation of the Ghoti–Trimbak (Mokhada)–Jawhar–Manor–Palghar section of NH-160A in Maharashtra, with a total length of 154.635 kms with Rs 3,320.38 crore outlay.
Cabinet also approved the widening of National Highway-167 from Gudebellur to Mahabubnagar on the Hyderabad-Panaji Economic Corridor to 4-Lane in Telangana with Rs 3,175.08 crore outlay. This will enhance the efficiency of freight movement, reducing logistics cost and driving socio-economic growth in the region.
In a bid to improve road connectivity in Gujarat, the government on Saturday approved upgradation of two sections of National Highway-56 to 4-lane with Rs 4,583.64 crore outlay.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor