The government will spend an estimated Rs 28,602 crore for these projects…reports Asian Lite News
Taking a step forward in the manufacturing ecosystem, the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved 12 industrial smart cities across the country.
These industrial smart cities are being built under the National Industrial Corridor Development Programme (NIDCP). These industrial nodes will cover 10 states and have been strategically planned along 6 major corridors.
The government will spend an estimated Rs 28,602 crore for these projects, Minister Ashwini Vaishnaw told reporters at a press briefing.
Union Minister Ashwini Vaishnaw said, “Cabinet today approved 12 Industrial Smart Cities under National Industrial Corridor Development Programme. The government will invest Rs 28,602 crore for this project.”
These industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in, Maharashtra, Palakkad in Kerela, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP and Jodhpur-Pali in Rajasthan.
Investment potential in these industrial hubs are Rs 1.5 lakh crore with 10 lakh direct and 30 lakh indirect employment potential.
“India to soon have a grand necklace of Industrial Smart Cities on the backbone of Golden Quadrilateral as Cabinet approves 12 World-class greenfield Industrial Smart Cities under National Industrial Corridor Development Programme,” DG PIB posted on X, soon after the Cabinet meeting.
e-auctions for 730 FM radio channels
The Cabinet has approved the proposal for the 3rd batch of ascending e-auctions for 730 FM radio channels in 234 new cities, with an estimated reserve price of Rs. 784.87 crore under the Private FM Radio Phase III Policy.
According to the official statement, the Cabinet also approved a proposal to set the Annual License Fee (ALF) for FM channels at 4 per cent of Gross Revenue, excluding Goods and Services Tax (GST). This will apply to the 234 new cities and towns.
The expansion of Private FM Radio to these 234 new locations will address the existing demand for FM radio services in areas still uncovered by private broadcasters, providing access to new and local content in regional languages.
This initiative will create new employment opportunities, promote local dialects and culture, and support the ‘vocal for local’ initiative.
Many of the approved cities and towns are located in Aspirational districts and areas affected by Left-Wing Extremism (LWE). The introduction of Private FM Radio in these regions will further strengthen the Government’s outreach efforts.
The evolution of India’s Private FM Radio Policy marked a shift from Medium Wave (MW) broadcasting to Frequency Modulated (FM) waves, driven by a need to enhance the quality and variety of radio programming, improve broadcast standards, and modernize outdated equipment.
Rs 4,136 cr hydropower boost in North East
The Cabinet has approved the Ministry of Power’s proposal to provide Central Financial Assistance (CFA) to the North Eastern Region (NER) state governments with an outlay of Rs. 4,136 crore for their equity participation in developing hydroelectric projects.
According to the official statement, these projects will be executed through Joint Venture (JV) collaborations between state entities and Central Public Sector Undertakings (CPSUs).
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.
The CFA for the NER state governments’ equity share will be capped at 24 per cent of the total project equity, with a maximum of Rs 750 crores per project.
This cap may be revisited on a case-by-case basis. The equity ratio between the CPSU and the state government in the JV will be maintained when disbursing the grant. CFA will only be provided to viable hydroelectric projects, with states expected to waive or stagger free power and/or reimburse SGST to ensure project viability.
Nod for 3 railway projects
The central government has approved three projects of the Ministry of Railways with a total estimated cost of Rs 6,456 crore. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved on Wednesday.
They include two new railway lines and one multi-tracking project. These projects will cover Odisha, Jharkhand, West Bengal, and Chhattisgarh.
The projects covering seven districts in these four states will increase the existing network of Indian Railways by about 300 Km.
“The approved projects will improve logistical efficiency by connecting the unconnected areas, increasing the existing line capacity, and enhancing transportation networks, resulting in streamlined supply chains and accelerated economic growth,” the government said.
The new line proposals will provide direct connectivity and improve mobility, providing enhanced efficiency and service reliability for Indian Railways.
The multi-tracking proposal will ease operations and reduce congestion, providing the much-required infrastructural development on the busiest sections across Indian Railways.