Modi Cabinet Greenlights ₹62,370 Crore Fertiliser Subsidy and Metro Expansion
The Union Cabinet has approved five significant initiatives, including a major fertiliser subsidy and the extension of the Noida Metro.
Cabinet allocates ₹62,370 crore for fertiliser subsidies for Rabi season.
₹3,230 crore approved for the Yuge Yugeen Bharat Museum in New Delhi.
Noida Metro extension project worth ₹2,390 crore aims to enhance urban connectivity.
In a recent meeting, Prime Minister Narendra Modi's Cabinet approved five major initiatives aimed at enhancing India's infrastructure, cultural heritage, and agricultural support. Among these decisions is a substantial ₹62,370 crore allocation for fertiliser subsidies, specifically for the upcoming Rabi season, intended to assist farmers in accessing necessary resources at reduced costs.
One of the standout projects is the Yuge Yugeen Bharat Museum, which has received ₹3,230 crore for its development. This museum will utilize the historic North and South Block buildings in New Delhi to exhibit India's rich cultural heritage and history, providing a dedicated space for education and tourism.
Additionally, the Cabinet sanctioned ₹2,390 crore for the extension of the Noida Metro, which will connect Sector 51 in Noida to Sector 4 in Greater Noida. This new corridor, spanning approximately 8.5 kilometers, is expected to significantly improve daily commutes and connectivity between these growing urban areas, making travel more efficient for residents.
The Cabinet also decided to continue the Credit Guarantee Fund for Micro Units under the Pradhan Mantri Mudra Yojana for another five years, with an allocation of ₹5,000 crore. This fund aims to bolster financial support for micro enterprises, particularly benefiting women and marginalized communities. Furthermore, the Stand-Up India scheme will see its credit guarantee fund extended with an allocation of ₹4,111 crore, focusing on empowering entrepreneurs from Scheduled Castes and Scheduled Tribes.
Looking ahead, these initiatives are set to have a profound impact on India's agricultural sector, urban infrastructure, and support for small businesses. The government aims to implement these projects efficiently, with timelines for completion and further announcements expected in the coming months.
