Prime Minister Narendra Modi on Wednesday hailed decisions taken by the union cabinet including that of building 12 Industrial nodes or cities under the National Industrial Corridor Development Programme (NICDP), saying that it will provide significant infrastructure boost apart from enhancing growth and creating employment opportunities.
“The Cabinet has taken a very important decision of building 12 Industrial nodes/cities under National Industrial Corridor Development Programme. Apart from the significant infrastructure boost, it will enhance growth and create employment for many people,” PM Modi posted on X.
He said the three new railways-related projects approved by the Cabinet today will greatly benefit Odisha, Jharkhand, West Bengal and Chhattisgarh.
“The benefits include seamless transportation of goods and easier travel for passengers,” he said.
In posts on X, the Prime Minister also hailed decisions concerning hydropower projects, FM radio rollout and progressive expansion of the Agriculture Infrastructure Fund.
“The Cabinet’s approval for financial assistance for hydropower projects in the Northeast will ensure sustainability, energy security and boost the local economy across the region. It will also create job opportunities and boost growth,” he said.
“The Cabinet decision on the rollout of Private FM Radio to 234 cities and towns will enhance access to diverse and local content, thus encouraging creativity and encouraging local languages as well as cultures. The decision by the Cabinet on the expansion of Central Sector Scheme of Agriculture Infrastructure Fund is yet another example of the importance attached to agriculture and farmer welfare. This decision will ensure a boost of incomes for farmers and encourage sustainability,” he added.
The Cabinet Committee on Economic Affairs on Wednesday approved 12 new project proposals under the National Industrial Corridor Development Programme. These industrial smart cities will come up with an estimated investment of Rs 28,602 crore.
Spanning across 10 states and strategically planned along six major corridors, these projects represent a significant leap forward in India’s quest to enhance its manufacturing capabilities and economic growth, an official release said.
These industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in, Maharashtra, Palakkad in Kerala, Agra and Prayagraj in Uttar Pradesh, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in Andhra Pradesh and Jodhpur-Pali in Rajasthan.
The Union Cabinet also approved the progressive expansion in the Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’ to make it more attractive, impactful and inclusive.
The Union Cabinet gave nod to the proposal of the Ministry of Power for providing Central Financial Assistance (CFA) to the states in the North Eastern Region towards their equity participation for development of hydroelectric projects in the region through Joint Venture (JV) Collaboration between state entities and Central Public Sector Undertakings.
The scheme will be implemented from FY 2024-25 to FY 2031-32 and aims to support a cumulative hydro capacity of approximately 15,000 MW. It will be funded through 10 per cent Gross Budgetary Support (GBS) for the North Eastern Region, drawn from the Ministry of Power’s total budget. The Ministry’s plan includes forming a JV company for each project between a central PSU and the respective state government.
“North Eastern Region is set to lead the nation’s development with Union Cabinet approving central financial assistance for hydroelectric projects today. This move will empower state govts drive national growth by funding their own hydropower projects. Thank you, PM Shri Narendra Modi Ji, for the visionary step,” Home Minister Amit Shah said in a post on X. (ANI)
